    [Public Papers of the Presidents of the United States: George W. Bush (2002, Book II)]
    [December 14, 2002]
    [Pages 2192-2193]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    December 14, 2002

        Good morning. This week I introduced new members of my economic
    team. For the Secretary of the Treasury, I have submitted the name of
    John Snow, a respected

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    business leader and economist who shares my commitment to faster growth
    and more new jobs for American workers. I have nominated Bill
    Donaldson to serve as Chairman of the
    Securities and Exchange Commission, to vigorously enforce the laws
    against corporate corruption. And here at the White House, Steve
    Friedman will be the Director of the
    National Economic Council, giving me daily advice on our economy.
        These leaders
    will assume their duties at an important
    moment for our economy. There are many good signs. Inflation is firmly
    under control, which means food, clothing, and other necessities are
    more affordable. Mortgage interest rates remain at historic lows,
    helping more Americans become homeowners. And growth has returned to the
    American economy.
        Yet we also face specific challenges that could slow the recovery
    and limit future growth. Many Americans have very little money left over
    after taxes. Some struggle under a weight of debt that makes it
    difficult to save for retirement. Investor confidence needs to be
    strengthened in practical ways. And the Nation's rate of unemployment is
    now 6 percent--and significantly higher in some parts of America. We
    will not rest until every person in America who wants to work can find a
    job.
        The new Congress that convenes next month will have a responsibility
    to address these challenges, and I will be making specific proposals to
    increase the momentum of economic recovery through a jobs and growth
    package.
        The last Congress also left behind some unfinished business. The
    House and Senate passed different bills extending unemployment benefits.
    However, no final bill was sent to me extending unemployment benefits
    for about 750,000 Americans whose benefits will expire on December the
    28th. These Americans rely on their unemployment benefits to pay for the
    mortgage or rent, food, and other critical bills. They need our
    assistance in these difficult times, and we cannot let them down.
        I have shared these concerns with leaders of the House and the
    Senate, and they understand the need for early action. When our
    legislators return to the Capitol, I ask them to make the extension of
    unemployment benefits a first order of business. And the benefits they
    approve should be retroactive, so that people who lose their benefits
    this month will be paid in full. I've also directed the Department of
    Labor to work with the States to minimize any delay in helping these
    Americans once Congress has acted and extended these benefits.
        I look forward to working with Members of both parties in the new
    Congress on our economic challenges. We must help our fellow citizens
    who have lost their jobs. And we must create an environment in which
    businesses, especially small businesses, can grow and generate the new
    jobs our country needs.
        Thank you for listening.

    Note: The address was recorded at 10:02 a.m. on December 13 in the
    Cabinet Room at the White House for broadcast at 10:06 a.m. on December
    14. The transcript was made available by the Office of the Press
    Secretary on December 13 but was embargoed for release until the
    broadcast. The Office of the Press Secretary also released a Spanish
    language transcript of this address.