    [Public Papers of the Presidents of the United States: George W. Bush (2007, Book II)]
    [July 7, 2007]
    [Pages 917-918]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    July 7, 2007

        Good morning. This week, we received more good news showing that our
    economy is strong and growing. Department of Labor reports that our
    economy has now created jobs for 46 consecutive months. America added
    132,000 jobs in June, and that means our economy has added more than 8.2
    million new jobs since August of 2003. Unemployment is low, consumer
    confidence is high, incomes are rising, and opportunity is growing
    across America.
        Our Nation's strong economy is no accident. It is the result of the
    hard work of the American people and progrowth policies in Washington.
    Starting in 2001, my administration delivered the largest tax relief
    since Ronald Reagan was in the White House. Our tax relief has left $1.1
    trillion in the hands of citizens like you to save and spend and invest
    as you see fit.
        Over the past 3 years, we have also held the growth of annual
    domestic spending close to 1 percent, well below the rate of inflation.
    The result is a thriving and resilient economy that is the envy of the
    world.
        Over the past 6 years, our economy has overcome serious challenges:
    a stock market decline; recession; corporate scandals; an attack on our
    homeland; and the demands of an ongoing war on terror. Despite these
    obstacles, our economy recovered, and tax revenues soared, and America
    is now in a position to balance the Federal budget. To achieve this
    goal, I sent Congress a budget plan this February that would keep taxes
    low, restrain Federal spending, and put us in surplus by 2012.
        Next week, my administration will release a report called the Mid-
    Session Review, which will provide you with an update on our Nation's
    progress in meeting the goal of a balanced budget. We know from
    experience that when we pursue policies of low taxes and spending
    restraint, the economy grows, tax revenues go up, and the deficit goes
    down.
        Democratic leaders in Congress want to take our country down a
    different track. They are working to bring back the failed tax-and-spend
    policies of the past. The Democrats' budget plan proposes $205 billion
    in additional domestic spending over the next 5 years and includes the
    largest tax increase in history. No nation has ever taxed and spent its
    way to prosperity. And I have made it clear that I will veto any attempt
    to take America down this road.
        Democrats in Congress are also behind schedule passing the
    individual spending bills needed to keep the Federal Government running.
    At their current pace, I will not see a single one of the 12 must-pass
    bills before Congress leaves Washington for the month-long August
    recess. The fiscal year ends September 30th. By failing to do the work
    necessary to pass these important bills by the end of the fiscal year,
    Democrats are failing in their responsibility to make tough decisions
    and spend the people's money wisely.

    [[Page 918]]

        This moment is a test. Under our Constitution, Congress holds the
    power of the purse. Democratic leaders are in control of Congress. They
    set the schedule for when bills are considered. They determine when
    votes are held. Democrats have a chance to prove they are for open and
    transparent government by working to complete each spending bill
    independently and on time. I urge Democrats in Congress to step forward
    now and pass these bills one at a time.
        As they do, I will insist they restrain spending so we can keep our
    Government running, while sustaining our growing economy and getting our
    budget into balance. And to help achieve these goals, I call on the
    Senate to act on my nomination of Jim Nussle
    as Director of the Office of Management and Budget. Jim is a former
    chairman of the House Budget Committee, and he will be a strong advocate
    for protecting your tax dollars here in Washington.
        By setting clear budget priorities and maintaining strong fiscal
    discipline, we can promote economic growth and bring our budget into
    balance. Our Nation has the most innovative, industrious, and talented
    people on the face of the Earth. And when we unleash the entrepreneurial
    spirit of our country, there is no limit to what the American people can
    achieve or the hope and opportunity we can pass on to future
    generations.
        Thank you for listening.

    Note: The address was recorded at 7 a.m. on July 6 in the Roosevelt Room
    at the White House for broadcast at 10:06 a.m. on July 7. The transcript
    was made available by the Office of the Press Secretary on June 6, but
    was embargoed for release until the broadcast. The Office of the Press
    Secretary also released a Spanish language transcript of this address.