    [Public Papers of the Presidents of the United States: George W. Bush (2006, Book I)]
    [June 24, 2006]
    [Pages 1209-1210]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    June 24, 2006

        Good morning. This past week, I traveled to Austria and Hungary,
    where I had productive meetings with our European allies. We discussed
    the challenges and opportunities we share, including the importance of
    spreading prosperity at home and around the world. It's good to be back
    home, and I'm pleased to report that our economy is strong, growing, and
    delivering prosperity to more of our people.
        Let me give you a few facts. In the first quarter of 2006, our
    economy grew at an impressive annual rate of 5.3 percent. Since August
    of 2003, America has created more than 5.3 million new jobs, more than
    all 25 nations of the European Union combined. Productivity is growing,
    and wages are beginning to rise. And because taxes are low, workers are
    keeping more of the money they earn.
        Our economy is heading into the summer on the fast track, and one of
    the best ways to keep our momentum going is to restrain spending in
    Washington, DC. Earlier this month, Congress took an important step by
    passing an emergency spending bill that stayed within the strict
    spending limits I set. The bill included necessary funding for high
    priorities, such as equipping our military and rebuilding the gulf
    coast, and it showed discipline in other areas. Congress deserves credit
    for meeting my spending limits, and I was pleased to sign the emergency
    spending bill into law.
        As Members of Congress show restraint on spending bills, they also
    need to make reforms in the spending process. Under the current system,
    many lawmakers are able to insert funding for pet projects into large
    spending bills. This process is called earmarking, and it often results
    in unnecessary spending. For example, a bill to fund our military can be
    loaded up with unjustified earmarks and other spending that may not add
    to our national security.
        This leaves Members of Congress with two bad options: They can
    either vote against the whole bill, including all the worthwhile
    spending, or they have to accept the whole bill, including the wasteful
    spending. The President is left with the same dilemma: Either he has to
    veto the entire bill or sign the bill and approve the unnecessary
    spending.
        There's a smarter way to handle taxpayer dollars, and it begins with
    granting the President a tool called the line-item veto. A line-item
    veto would allow the President to remove wasteful spending from a bill
    while preserving the rest of the legislation. Forty-three of our
    Nation's 50 Governors have line-item veto authority, and they have used
    that authority to remove needless spending from otherwise good bills.
        Ten years ago, Members of Congress from both parties voted to grant
    President Clinton the line-item veto.
    However, the Supreme Court ruled that version of the line-item veto
    unconstitutional because it

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    took too much spending authority away from the Congress. I proposed a
    new version of the line-item veto that fixes the problem and gives the
    President a clear and constitutional way to cut wasteful spending. Under
    my proposal, the President would identify a list of unnecessary items
    that should be removed from a larger spending bill. Congress would then
    be required to hold a prompt up-or-down vote on the list.
        A line-item veto would give the President a way to insist on greater
    discipline in the budget. A line-item veto would reduce the incentive
    for Congress to spend wastefully because when lawmakers know their pet
    projects will be held up to public scrutiny, they will be less likely to
    suggest them in the first place. Most importantly, a line-item veto
    would benefit American taxpayers by ensuring greater respect for their
    hard-earned dollars.
        This past Thursday, the House of Representatives passed a bill
    granting line-item-veto authority. This was a victory for the taxpayers
    and for spending restraint. I call on the Senate to show a bipartisan
    commitment to fiscal discipline by passing the line-item veto so we can
    work together to cut wasteful spending, reduce the deficit, and save
    money for American taxpayers.
        Thank you for listening.

    Note: The address was recorded at 7:50 a.m. on June 23 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on June 24. The
    transcript was made available by the Office of the Press Secretary on
    June 23 but was embargoed for release until the broadcast. The Office of
    the Press Secretary also released a Spanish language transcript of this
    address.