Radio Address by the President to the Nation, 7-19-03

The White House ^ | 7-19-03 | Geroge W. Bush

[Salvation]

For Immediate Release
Office of the Press Secretary
July 19, 2003

President's Radio Address

     Audio

THE PRESIDENT: Good morning. Next week, the United States Treasury will begin printing and mailing more than 25 million child tax credit checks, putting over $12 billion back into the hands of American families. These rebates are the result of the Jobs and Growth Act I recently signed into law, which increases the child tax credit from $600 to $1,000 per child. And because this new law reduced income tax rates, businesses earlier this month lowered tax withholding for worker paychecks. Now, those workers and their families have a lighter tax bill and more take-home pay.

With the child tax credit rebates and the lower tax rates taking effect, America's families will have more of their own money to make purchases, pay their bills, save for their children's education and invest in a new home or business. There are hopeful signs that our actions are contributing to economic growth. Individual investors are showing greater confidence, leading to a significant rise in the stock market. And thanks to our efforts to reduce taxes on stock dividends, dozens of major companies have announced plans to either increase their existing dividend payout, or pay dividends for the first time, putting billions of dollars in cash into shareholder's pockets.

Earlier this week, I met with leading private economists, who see a faster rate of economic growth in the coming year-and-a-half. The U.S. housing market is robust, strengthened by low mortgage rates and rising after-tax incomes. Inflation is low, retail sales have been rising, and productivity growth, the most important indicator of economic strength, remains high.

My administration remains focused on faster economic growth that will translate into more jobs. Now that Americans can keep more of what they earn, we can expect to see rising demand for goods and services. And as demand increases, companies will need more workers to meet it.

We will continue to take action on a broad agenda for more growth and jobs. We are pressing the Senate to join the House of Representatives in passing an energy bill to assure stable and affordable energy supplies. And we're pressing the Senate on litigation reform, so small businesses and manufacturers can focus on creating jobs instead of fighting frivolous lawsuits. I'm asking both houses of Congress to create re-employment accounts for those seeking jobs, so they can pay for job training and child care and other costs of finding work.

Faster economic growth will bring the added benefit of higher revenues for our government. And those new revenues, combined with spending discipline in Washington, D.C., are the surest way to bring down the deficit. My budget for fiscal year 2004 calls for a modest increase in discretionary spending of only 4 percent, or about the same increase as the average American household budget. I urge Congress to make spending discipline a priority, so that we can cut the deficit in half over the next five years.

Government does not create prosperity. Government can, however, create the conditions that make prosperity possible. The Jobs and Growth Act of 2003 was based on the fundamental faith in the energy and creativity of the American people. With hard work and daily determination, entrepreneurs and workers are moving this economy forward. The American economy is headed in the right direction, and we can be confident of better days ahead.

Thank you.

END

[Salvation]

For your infomation. All comments welcomed.

[Salvation]

Sorry that this is a day late. Better late than never. Explanation below.

[Salvation]

Please notify me by Freepmail if you would like to be added to or removed from the Radio Address Ping List.

My apologies to all. I was on vacation from June 25th through July 6th, when I returned home and promptly fell in my driveway on my knee, breaking the patella. My surgery was on the 8th............so here we are a little late here. Please forgive for not getting it all arranged for someone to do the posting while I was gone, but I see that several people did pick up the torch and run. The doctor says 8 weeks for my recovery, so I am hanging in here for right now. I have a hospital bed in my living room so I need not access the second floor in my condo, and last week friends came over and brought my computer downstairs. Talk to all of you later. Salvation

[Miss Marple]

Oh, Salvation, I am so sorry for your injury!! My prayers for your swift recovery!

[MeekOneGOP]

OUCH !! That had to hurt. So sorry to hear that. I hope you mend/recover quickly.

[MeekOneGOP]

And, er.....uh, ..... perhaps bump is not the proper thing to do to this thread. lol.

[Ragtime Cowgirl]

Ouch. You are a trooper. Gold star for posting under duress. Thank you, Salvation.

Government does not create prosperity. Government can, however, create the conditions that make prosperity possible.

Bimp. (Clouseau's on AMC. French?)

[Salvation]

Thanks, Miss Marple. I had originally planned to travel to Portland today to help celebrate my son's birthday. But decided to stay home and rest instead. I know he will understand.

[Salvation]

LOL, Meek n Ming!

Bump is OK, but I'll pass on the fall to the pavement for right now!!

God bless!

[Salvation]

Durress -- no.

Pain, yes.

And maybe the reason I stayed home today is that I am down to the last two pain pills. I was totally unaware of the new controls on narcotics (so naieve am I!)so I have a friend stopping by tomorrow morning to take me down to the doc's office tomorrow morning to pick up the perscription.

[Miss Marple]

I had knee surgery 4 years ago, although not as severe as yours. I understand the pain. Yikes!

Be sure when they prescribe rehab and exercises that you do them. It makes a world of difference in how quickly you recover.

[MeekOneGOP]

LOL ! Glad the fall didn't affect you good sense of humor! Thanks.

[xrp]

Government does not create prosperity. Government can, however, create the conditions that make prosperity possible.

He's partially right. Government cannot create prosperity, but it cannot create the conditions that make it possible. Rather, government must get out of the way (remove taxes and regulations) to allow freedom and liberty to make prosperity possible.

[Salvation]

**And we're pressing the Senate on litigation reform, so small businesses and manufacturers can focus on creating jobs instead of fighting frivolous lawsuits.**

As a former small business owner I applaud this action. My questions, however, lie with the lobbying of the attorneys with the dims. They will try to get what they want -- more money!

The frivolous lawsuits are truly a pain to small business and a blow to the pocketbook of the nation.

[Ernest_at_the_Beach]

Sorry to hear about the injury.

Get well soon!

[dixiechick2000]

Bless your heart! I'm so sorry about your accident!

I appreciate the ping. I missed his address, again.

Take care of yourself!

[Coop]

And thanks to our efforts to reduce taxes on stock dividends, dozens of major companies have announced plans to either increase their existing dividend payout, or pay dividends for the first time, putting billions of dollars in cash into shareholder's pockets.

Even with my meager portfolio, I've recently noticed that the companies seem to be paying dividends a bit more freely.

[goldilucky]

"The American economy is headed in the right direction, and we can be confident of better days ahead. "

Suuure it is! Explain to the American people why there are more jobs being moved out of this country than there are any staying in this country. Please don't tell the American people it's raining when our government is pissing on our backs!

[Gopher Broke]

Don't forget to post the democRAT rebuttal:

(in my best condescending, Al Gore voice to 1st graders...)

"Uhhhhh....Bush is bad..a bad guy. He hates small liberals, I mean small children.

Let democRATs buy your votes..uhhh, I mean lead the nation."

[Gopher Broke]

Don't forget to post the democRAT rebuttal:

(in my best condescending, Al Gore voice to 1st graders...)

"Uhhhhh....Bush is bad..a bad guy. He hates small liberals, I mean small children.

Let democRATs buy your votes..uhhh, I mean lead the nation."