[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

[[Page 1075]]

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.