    [Public Papers of the Presidents of the United States: George W. Bush (2004, Book I)]
    [June 19, 2004]
    [Pages 1098-1099]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    June 19, 2004

        Good morning. This week, we received more good news showing that our
    economy is gaining momentum. The Department of Labor reported State-by-
    State job gains for the month of May. In every region of our Nation and
    across many growing industries, more Americans are finding work. The
    State of Arizona added 8,400 new jobs in May. New Jersey gained 9,500
    new jobs. Pennsylvania added 10,700 new jobs. And North Carolina picked
    up 13,400 new jobs.
        The unemployment rate has fallen in 46 out of the 50 States over the
    last year. And many of the new jobs are being created in industries that
    pay above average wages, such as construction and education and
    manufacturing.

    [[Page 1099]]

        Time and again, our economy has defied the gloomy predictions of
    pessimists. Because of the hard work of so many Americans and because of
    the good policies in Washington, DC, our economy is strong, and it is
    getting stronger. America has added more than 1.4 million new jobs since
    last August. Our economy has grown at the fastest pace in almost two
    decades, and the recession was one of the shortest and shallowest in
    modern American history.
        Americans are earning more, and because of tax relief, they're
    keeping more of what they earn. Real after-tax incomes have increased by
    11 percent since the start of 2001. Those are important gains for our
    entire economy because they go to the taxpayers and not to the
    Government. And we have seen that the taxpayers know best how to drive
    our economy forward. Moms and dads have used their child tax credit
    checks and other tax relief to boost demand throughout our economy. The
    homeownership rate is at an alltime high, and because of greater demand,
    businesses are making more purchases of equipment. Business investment
    is up more than 9 percent in the last year. And we know that when
    businesses invest, that makes it more likely someone will find a job.
        Tax relief is working. But there's more to do to keep our economy
    growing. My pro-growth, pro-jobs economic agenda starts with making tax
    relief permanent so the families and businesses can plan for the future
    with confidence. The House has voted to make much of my tax relief
    permanent. And now the Senate needs to act, so that we do not raise
    taxes on the American people.
        We must maintain our policy of open trade, because we know that on a
    level playing field, America's workers can compete with anyone in the
    world. We must make sure our children are learning and our workers are
    ready for their first day on the job. So I proposed reforms to improve
    our schools and worker training programs.
        We must have a national energy plan that promotes conservation,
    exploration, and investment in infrastructure, which will reduce our
    dependence on foreign sources of energy. I proposed such a plan 3 years
    ago. Now it's time for the Congress to act.
        Our Nation has a healthy, vibrant, and growing economy. Our Nation
    is ready to face the economic challenges that lie ahead. We have
    millions of confident entrepreneurs who work hard and take risks and
    create opportunities for others. We have a culture of innovation where
    people are encouraged to come up with new solutions to old problems. We
    have a great workforce. With these strengths, there is no limit to how
    much we can accomplish, and I am certain that our best days are yet to
    come.
        Thank you for listening.

    Note: The address was recorded at 10:30 a.m. on June 18 in Bronson Hall
    at Fort Lewis, WA, for broadcast at 10:06 a.m. on June 19. The
    transcript was made available by the Office of the Press Secretary on
    June 18 but was embargoed for release until the broadcast. The Office of
    the Press Secretary also released a Spanish language transcript of this
    address.