    [Public Papers of the Presidents of the United States: George W. Bush (2008, Book II)]
    [August 30, 2008]
    [Pages 1164-1165]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    August 30, 2008

        Good morning. This weekend, millions of Americans will celebrate
    Labor Day. This holiday marks the traditional end of the summer season.
    It is also an opportunity to reflect on the contributions of hard-
    working Americans all across our country, from teachers, farmers, and
    health care professionals, to firefighters, police officers, small-
    business owners, and workers on the assembly line.
        The American workforce continues to be the marvel of the world, yet
    many working families have been weathering tough economic times. There
    are families across our country struggling to make ends meet. There is
    an understandable concern about the high price of gas and food, and many
    Americans are worried about the health of our housing and job markets.
        I share these concerns about our economy, yet there have been some
    recent signs that our economy is beginning to improve. While the housing
    market is continuing to experience difficulty, the decline in home sales
    has leveled off recently, and sales are rising in some parts of the
    country. Orders for some durable goods, such as business equipment, are
    rising. And earlier this week, we received a report that America's
    economy grew in the second quarter at an annual rate of 3.3 percent,
    surprising analysts who were predicting an economic recession.
        These welcome signs indicate that the economic stimulus package that
    I signed earlier this year is having its intended effect. The growth
    package will return more than $150 billion back to American families and
    businesses this year. Many Americans who received tax rebates are
    spending them. Businesses are taking advantage of tax incentives to
    purchase new equipment this year. And there are signs that the stimulus
    package will continue to have a beneficial impact on the economy in the
    second half of the year.
        Labor Day is also the traditional start of the election season. In
    the coming months, it will be tempting for some in Congress to try to
    score political points instead of getting work done for the American
    people. Our citizens deserve better. We still have time to accomplish
    important goals for our country. My administration remains hopeful that
    we can work with Democratic leaders in Congress on bipartisan measures
    to help Americans cope with this period of economic uncertainty.
        We need to work together on a comprehensive approach to our energy
    problems. I've called on Congress to permit us to tap vast, unused
    sources of oil and gas, expand domestic refining capacity, and encourage
    the development of alternative energy sources. Congress continues to
    stand in the way of this comprehensive approach.

    [[Page 1165]]

    At a minimum, Democratic leaders in Congress should move forward on
    commonsense energy proposals that have bipartisan support, and it is not
    too late to do this. They should act responsibly by lifting the ban on
    offshore drilling, expanding access to oil shale, and implementing long-
    term tax credits to spur the development of alternative sources of
    energy like wind, solar, and nuclear power.
        We need to work together to open up markets for American goods.
    Exports account for a greater share of America's gross domestic product
    than at any time in our history. It is not too late for Congress to
    approve free trade agreements with strong allies like Colombia, Panama,
    and South Korea so that we can create more opportunities for American
    farmers, ranchers, and entrepreneurs.
        We need to work together to keep your taxes low. At a time of
    economic challenge, the last thing American families need is a massive
    tax increase. It's not too late for Congress to make the tax relief we
    passed in 2001 and 2003 permanent.
        Despite our economic difficulties, there is every reason to be
    optimistic about America's future. Our workforce is dynamic and
    productive, our economy is showing that it is resilient, and our Nation
    is the most industrious, creative, and prosperous on Earth.
        Laura and I wish you a safe and joyous Labor
    Day weekend. Thank you for listening.

    Note: The address was recorded at 7:50 a.m. on August 29 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on August 30. The
    transcript was made available by the Office of the Press Secretary on
    August 29, but was embargoed for release until the broadcast. The Office
    of the Press Secretary also released a Spanish language transcript of
    this address.