For Immediate Release
June 19, 2004
President's Radio Address
Audio
THE PRESIDENT: Good morning. This week, we received more good
news showing that our economy is gaining momentum. The Department of
Labor reported state-by-state job gains for the month of May. In every
region of our nation, and across many growing industries, more
Americans are finding work. The state of Arizona added 8,400 new jobs
in May. New Jersey gained 9,500 new jobs. Pennsylvania added 10,700
new jobs. And North Carolina picked up 13,400 new jobs.
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The unemployment rate has fallen in 46 out of the 50 states over
the last year. And many of the new jobs are being created in
industries that pay above average wages, such as construction and
education and manufacturing.
Time and again, our economy has defied the gloomy predictions of
pessimists. Because of the hard work of so many Americans, and because
of the good policies in Washington, D.C., our economy is strong, and it
is getting stronger. America has added more than 1.4 million new jobs
since last August. Our economy has grown at the fastest pace in almost
two decades. And the recession was one of the shortest and shallowest
in modern American history.
Americans are earning more, and because of tax relief, they're
keeping more of what they earn. Real after-tax incomes have increased
by 11 percent since the start of 2001. Those are important gains for
our entire economy because they go to the taxpayers and not to the
government. And we have seen that the taxpayers know best how to drive
our economy forward. Moms and dads have used their child tax credit
checks and other tax relief to boost demand throughout our economy.
The home ownership rate is at an all-time high. And because of greater
demand, businesses are making more purchases of equipment. Business
investment is up more than 9 percent in the last year. And we know
that when businesses invest, that makes it more likely someone will
find a job.
Tax relief is working. But there's more to do to keep our economy
growing. My pro-growth, pro-jobs economic agenda starts with making
tax relief permanent so the families and businesses can plan for the
future with confidence. The House has voted to make much of my tax
relief permanent. And now the Senate needs to act, so that we do not
raise taxes on the American people.
We must maintain our policy of open trade, because we know that on
a level playing field, America's workers can compete with anyone in the
world. We must make sure our children are learning and our workers are
ready for their first day on the job. So I proposed reforms to improve
our schools and worker training programs.
We must have a national energy plan that promotes conservation,
exploration, and investment in infrastructure, which will reduce our
dependence on foreign sources of energy. I proposed such a plan three
years ago. Now it's time for the Congress to act.
Our nation has a healthy, vibrant, and growing economy. Our nation
is ready to face the economic challenges that lie ahead. We have
millions of confident entrepreneurs who work hard and take risks and
create opportunities for others. We have a culture of innovation where
people are encouraged to come up with new solutions to old problems.
We have a great work force. With these strengths, there is no limit to
how much we can accomplish. And I am certain that our best days are
yet to come.
Thank you for listening.
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