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[dvnews_page]USPresident'eechonAmericaneconomicfuture(August6,2005)
THEPRESIDENT:Goodmorning.Asfamiliesacrothecountryenjoythesummer,Americacanbeoptimisticaboutoureconomicfuture.Inthepastfouryears,oureconomyhasbeenthroughalot:wefacedastockmarketdecline,areceion,corporatescandals,anattackonourhomeland,andthedemandsofanongoingwaronterror.
br>TogrowtheeconomyandhelpAmericanfamilies,weactedbypaingthelargesttaxreliefinageneration.Andtoday,thankstothetaxreliefandtheeffortsofAmerica'sworkersandentrepreneurs,oureconomyitrongandgrowingstronger.Thispastweek,welearnedthatAmericaaddedover200,000newjoinJuly.SinceMayof2003,we'veaddednearly4millionnewjo.Theunemploymentrateisdownto5percent,belowtheaverageofthe1970s,1980sand1990s.AndmoreAmericaareworkingtodaythaneverbeforeinournation'shistory.Recenteconomicreporthowthatoureconomyisgrowingfasterthananyothermajorindustrializednation.Smallbusineesareflourishing.Workersaretakinghomemoreofwhattheyearn.Realdiosablepersonalincomehasgrownbyover12percentsincetheendof2000.Inflationislowandmortgageratesarelow.Andoverthepastyear,thehomeownershiprateinAmericahasreachedrecordlevels.ThetaxreliefstimulatedeconomicvitalityandgrowthandithashelpedincreaserevenuestotheTreasury.Theincreasedrevenuesandourendingrestrainthaveledtogoodprogreinreducingthefederaldeficit.Lastmonthwelearnedthatthedeficitisnowprojectedtobe$94billionlethanpreviouslyexpected.Isetagoalofcuttingthedeficitinhalfby2009,andweareaheadofpacetomeetthatgoal.TocontinuecreatingjoandtoeurethatourproerityreacheseverycornerofAmerica,we'reopeningmarketsabroadforourgoodsandservices.Thispastweek,IwasproudtosigntheCentralAmerican-DominicanRepublicFreeTradeAgreement.ThishistoricagreementwillleveltheplayingfieldforAmerica'sworkersandfarmers,andopenupamarketof44millioncustomersforproductsmadeintheUnitedStates.Tokeepoureconomygrowingwealsoneedaffordable,reliablesuliesofenergy.NextweekinNewMexico,I'llsignabipartisanenergybillthatencouragescoervation,expandsdomesticproductioninenvironmentallyseitiveways,diversifiesourenergysuly,modernizesourelectricitygridandmakesAmericaledependentonforeignsourcesofenergy.AndnextWednesdayinIllinois,I'llsignahighwaybillthatwillimprovethesafetyofourroads,s
