For Immediate Release
Office of the Press Secretary
August 30, 2003
President's Radio Address
Audio
THE PRESIDENT: Good morning. On this Labor Day weekend, Americans
pay tribute to the spirit of hard work and enterprise that has always
made this nation strong. Every day, our workers go to factories and
offices and farms and produce the world's finest goods and services.
Their creativity and energy are the greatest advantage of the American
economy.
Worker productivity accelerated last year at the fastest rate in
more than a half century. This higher productivity means our workers
receive higher wages, our nation's exports get a competitive boost in
world markets and our economic recovery gains momentum at a crucial
time.
The Jobs and Growth Act I signed in May ensures that workers enjoy
more of the benefits of their work through more take-home pay. Tax
relief was based on the conviction that workers are entitled to keep
more of their hard-earned wages. That belief, after all, is why
America celebrates Labor Day and not tax day.
For America's families, tax relief has come at just the right
time. For a family of four with a household income of $40,000, tax
relief passed over the last two-and-a-half years means they get to keep
nearly $2,000 more of their own money.
Millions of families this past month received checks for up to $400
per child because we increased the child tax credit. This tax relief,
more than $13 billion worth, means that America's workers can save,
invest and make purchases they have been putting off. Many moms and
dads are using their extra income to take care of back-to-school
expenses.
As consumer spending rises, manufacturers are seeing more new
orders for their goods. Low interest rates mean businesses have better
balance sheets, and families have saved billions of dollars by
refinancing their homes. These are the signs of a reviving economy.
Now we must build on this progress and make sure that the economy
creates enough new jobs for American workers. Next week I will travel
to Ohio, Missouri and Indiana to talk about my agenda for job creation
across America.
As part of this agenda, our nation needs a comprehensive energy
plan, so that our businesses and homes can rely on a steady and
affordable supply of energy. The recent blackout in the Northeast
shows how important reliable energy is to the American economy and
demonstrates the need to take action on good energy policy. So when
members of Congress return from the summer recess, I will again ask
them to pass a sound energy bill as soon as possible.
America needs legal reform, because junk lawsuits can destroy a
business and they're making health care coverage less affordable for
employers and workers. And Congress must restrain government spending
so that we can bring the deficit down by half within the next five
years.
We must negotiate trade agreements with other nations. My
administration will be vigilant in making sure our agreements are
followed by all our trading partners. With free trade and a level
playing field, American workers can successfully compete with any
workers in the world.
This long weekend is a well-deserved reward for the millions of men
and women who make this economy go. I wish all Americans a happy and
restful Labor Day.
Thank you for listening.
END
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