    [Public Papers of the Presidents of the United States: George W. Bush (2002, Book II)]
    [July 13, 2002]
    [Pages 1225-1226]
    [From the U.S. Government Publishing Office www.gpo.gov]

    [[Page 1225]]

    The President's Radio Address
    July 13, 2002

        Good morning. Congress came back to Washington this week, and they
    have a lot of work ahead of them before the August vacation. I urge the
    Congress to join me in acting to achieve three big goals: We need to win
    the war; we need to protect our homeland; and we must strengthen our
    economy.
        Winning the war and protecting the homeland require a sustained
    national commitment. More than 100 days ago, I asked Congress to pass
    emergency funding to equip our Armed Forces and strengthen security at
    our airports. The Department of Defense and the new Transportation
    Security Administration are still waiting for the money. Without prompt
    congressional action, our military will need to start cannibalizing
    spare parts to keep equipment running; the Transportation Security
    Administration will have to suspend the purchase and installation of up
    to 1,100 bomb detection systems; and the FAA may have to furlough up to
    35,000 air traffic employees.
        Congress must fund our troops while they're fighting a war, and
    Congress must provide funds to continue improving security at our
    airports. Congress also must pass the Defense appropriations for next
    year's budget. The House has acted. The Senate must act. Our Nation is
    at war, and our budget priorities and actions need to reflect that
    reality. Congress should send the Defense bill to my desk by the end of
    this month.
        These bills are critical. Yet, quick action on them does not and
    should not preclude simultaneous progress on other legislation. Creating
    more jobs and strengthening our economy are an urgent part of our
    agenda.
        Congress can act to create jobs by giving me trade promotion
    authority, which will allow me to open up foreign markets to American
    goods and create better American jobs. For the sake of long-term growth
    and job creation, I ask Congress to make last year's tax reductions
    permanent. And I ask Congress to work with me to pass a terrorism
    insurance bill, to give companies the security they need to expand and
    create jobs through new building projects.
        Perhaps the greatest need for our economy at this moment is
    restoring confidence in the integrity of the American business leaders.
    Nearly every week brings news of greater productivity or strong consumer
    spending but also a discovery of fraud and scandal, problems long in the
    making and now coming to light.
        This week, I announced new steps my administration is taking to
    crack down on corporate fraud. I proposed doubling jail time for
    financial fraud. I am creating a new task force at the Justice
    Department to aggressively investigate corporate crime. I'm requesting
    an additional $100 million to give the SEC the manpower and the
    technology it needs to better enforce the law. This year, the SEC has
    acted to bar 71 officers and directors from ever again serving as a
    director of a public company. All of these measures are in addition to
    the comprehensive plans I announced and the House passed to protect
    worker pensions and to make CEOs more accountable.
        As part of this crackdown, I support the creation of a strong,
    independent board that will provide effective oversight of the
    accounting profession. This board would have the ability to monitor,
    investigate, and enforce high ethical principles by punishing individual
    offenders. My administration is working with congressional leaders in
    both parties to pass legislation that will protect workers and
    shareholders and investors. I am pleased that the Senate approved
    several of my new proposals this week. The Senate, the House, and my
    administration

    [[Page 1226]]

    will not stop working until a final bill is passed.
        Strengthening the economy and protecting the homeland and fighting
    the war on terror are critical issues that demand prompt attention. I
    urge the Congress to act on all these issues before they adjourn for
    their August recess.
        Thank you for listening.

    Note: The address was recorded at 10:25 a.m. on July 12 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on July 13. The
    transcript was made available by the Office of the Press Secretary on
    July 12 but was embargoed for release until the broadcast. The Office of
    the Press Secretary also released a Spanish language transcript of this
    address.