    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book II)]
    [August 30, 2003]
    [Pages 1074-1075]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    August 30, 2003

        Good morning. On this Labor Day weekend, Americans pay tribute to
    the spirit of hard work and enterprise that has always made this Nation
    strong. Every day, our workers go to factories and offices and farms and
    produce the world's finest goods and services. Their creativity and
    energy are the greatest advantage of the American economy.
        Worker productivity accelerated last year at the fastest rate in
    more than a half century. This higher productivity means our workers
    receive higher wages, our Nation's exports get a competitive boost in
    world markets, and our economic recovery gains momentum at a crucial
    time.
        The Jobs and Growth Act I signed in May ensures that workers enjoy
    more of the benefits of their work through more take-home pay. Tax
    relief was based on the conviction that workers are entitled to keep
    more of their hard-earned wages. That belief, after all, is why America
    celebrates Labor Day and not tax day.
        For America's families, tax relief has come at just the right time.
    For a family of four with a household income of $40,000, tax relief
    passed over the last 2\1/2\ years means they get to keep nearly $2,000
    more of their own money.
        Millions of families this past month received checks for up to $400
    per child because we increased the child tax credit. This tax relief,
    more than $13 billion worth, means that America's workers can save,
    invest, and make purchases they have been putting off. Many moms and
    dads are using their extra income to take care of back-to-school
    expenses.
        As consumer spending rises, manufacturers are seeing more new orders
    for their goods. Low interest rates mean businesses have better balance
    sheets, and families have saved billions of dollars by refinancing

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    their homes. These are the signs of a reviving economy.
        Now we must build on this progress and make sure that the economy
    creates enough new jobs for American workers. Next week I will travel to
    Ohio, Missouri, and Indiana to talk about my agenda for job creation
    across America.
        As part of this agenda, our Nation needs a comprehensive energy plan
    so that our businesses and homes can rely on a steady and affordable
    supply of energy. The recent blackout in the Northeast shows how
    important reliable energy is to the American economy and demonstrates
    the need to take action on good energy policy. So when Members of
    Congress return from the summer recess, I will again ask them to pass a
    sound energy bill as soon as possible.
        America needs legal reform, because junk lawsuits can destroy a
    business, and they're making health care coverage less affordable for
    employers and workers. And Congress must restrain Government spending so
    that we can bring the deficit down by half within the next 5 years.
        We must negotiate trade agreements with other nations. My
    administration will be vigilant in making sure our agreements are
    followed by all our trading partners. With free trade and a level
    playing field, American workers can successfully compete with any
    workers in the world.
        This long weekend is a well-deserved reward for the millions of men
    and women who make this economy go. I wish all Americans a happy and
    restful Labor Day.
        Thank you for listening.

    Note: The address was recorded at 9:55 a.m. on August 29 at the Bush
    Ranch in Crawford, TX, for broadcast at 10:06 a.m. on August 30. The
    transcript was made available by the Office of the Press Secretary on
    August 29 but was embargoed for release until the broadcast. The Office
    of the Press Secretary also released a Spanish language transcript of
    this address.