    [Public Papers of the Presidents of the United States: George W. Bush (2006, Book I)]
    [April 7, 2006]
    [Pages 678-679]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on the National Economy
    April 7, 2006

        Good morning. This morning's economic report shows that America's
    growing economy added 211,000 jobs in the month of March. The American
    economy has now added jobs for 31 months in a row, created more than 5.1
    million new jobs for American workers. The unemployment rate is now down
    to 4.7 pecent; that's below the average rate of the 1960s, 1970s, 1980s,
    and 1990s.
        These millions of new jobs are evidence of an economic resurgence
    that is strong, broad, and benefiting all Americans. Real after-tax
    income has grown by more than 8 percent per person since I took office.
    That means, on average, Americans have an income that is $2,100 higher
    this year than it was in 2001, after adjusting for inflation.
        More Americans own their homes than at any time in history. Minority
    homeownership has reached record levels. Consumer confidence is at its
    highest point in nearly 40 years. Productivity is high; inflation is
    contained; manufacturing activity is growing; and the small-business
    sector is thriving.
        The economy has expanded for 17 straight quarters. And last year,
    the American economy grew at a healthy rate of 3.5 percent. That's the
    fastest rate of any major industrialized economy.
        These gains are the result of the energy and the effort of American
    workers, small-business owners, and entrepreneurs. They are also the
    result of progrowth economic policies. The tax cuts I signed left $880
    billion with our Nation's workers, small-business owners, and families.
    They've used that money to fuel our economic resurgence.
        Not everyone in Washington agreed with the decision to let people
    keep more of their own money. On the day that Republicans in the House
    and Senate were finalizing the 2003 tax cuts, one Democratic
    leader said these cuts would, quote, ``do
    nothing to create jobs.'' Facts have proven the critics wrong 5.1
    million times over.
        Tax relief has done exactly what it was designed to do. It's created
    jobs and growth

    [[Page 679]]

    for the American people. Yet some are now proposing that we raise taxes,
    either by repealing the tax cuts or letting them expire. These are the
    same politicians who told us that letting Americans--letting America's
    working families keep more of their own money would be irresponsible,
    reckless, and shameful. They were wrong then, and they are wrong now.
    Our economy grows when the American people make the decisions about how
    to save, spend, and invest their money. To keep our economy creating
    jobs and opportunity, Congress needs to show its trust in the American
    people and make the tax relief permanent.
        Congress also needs to restrain spending so we can stay on track to
    cut the deficit in half by 2009. And if necessary, I will enforce
    spending restraint through the exercise of the veto. The American people
    expect their leaders to address other key leaders--that directly affect
    their family budgets and bottom line, especially health care and energy.
        When the cost of energy and health care rise, families are squeezed
    and small businesses suffer. I proposed practical reforms that would
    make health care more available and affordable. I put forward an energy
    initiative that will make our dependence on Middle Eastern oil a thing
    of the past. I've also laid out a plan to make America more competitive
    by increasing our investment in scientific research, encouraging
    research and development in the private sector, and improving math and
    science education.
        I urge the Congress to move forward on all these important
    priorities so we can keep America the economic leader of the world and
    allow more families and small businesses to realize the American Dream.
        Thank you for your time.

    Note: The President spoke at 9:32 a.m. in the Diplomatic Reception Room
    at the White House.