    [Public Papers of the Presidents of the United States: George W. Bush (2007, Book II)]
    [July 27, 2007]
    [Pages 1023-1024]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks Following a Meeting With Economic Advisers on the National
    Economy
    July 27, 2007

        I want to thank my economic advisers for joining me here in the
    Cabinet. Today we've had wide-ranging discussions about

    [[Page 1024]]

    a lot of aspects of our economy. I appreciate the Secretary of
    Commerce, the Secretary of
    Treasury, and others for giving me
    their opinions about the events of today.
        And what they're saying--one of the important pieces of data that
    I've been briefed on is the fact that our economy grew at 3.4 percent in
    the second quarter of this year. Inherent in that growth is a free-
    enterprise system that provides incentives for people to take risk and
    to grow their businesses. And it's an economy that is large and flexible
    and resilient.
        One of the interesting aspects of this economic growth is that we
    have benefited from increased exports. In other words, U.S. farmers and
    small-business owners and manufacturers have found markets overseas for
    our products, products grown right here or built right here in the
    United States. And by selling those products overseas, it's contributed
    to the strong second quarter growth.
        And when we are able to sell products overseas or goods and services
    overseas, it means that Americans are more likely to find a job here in
    America. The job growth has been strong, and that's what you'd expect
    when your economy is strong and resilient and flexible. People are
    working; the unemployment rate is down; wages are increasing.
        And so I want the American people to take a good look at this
    economy of ours. The world is strong--the world economy is strong. I
    happen to believe one of the main reasons why is because we remain
    strong. And my pledge to the American people is, we will keep your taxes
    low to make sure the economy continues to remain strong, and we'll be
    wise about how we spend your money here in Washington, DC. I've
    submitted a budget that will be in balance by 2012, and I look forward
    to working with Congress to achieve that goal.
        Anyway, thank you all for coming. I appreciate you briefing me.

    Note: The President spoke at 9:46 a.m. in the Roosevelt Room at the
    White House. The Office of the Press Secretary also released a Spanish
    language transcript of these remarks.