[Weekly Compilation of Presidential Documents Volume 37, Number 10 (Monday, March 12, 2001)]
[Pages 397-398]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

March 3, 2001

    Good morning. As I begin, I want to say a few words about the people 
of Washington State. Earlier this week, that State was rocked by a 
powerful earthquake, which affected countless lives and caused billion 
dollars of damage. The Director of the Federal Emergency Management 
Association, Joe Allbaugh, went immediately to Seattle, and my 
administration is providing help. Our prayers are with the people of 
Washington State.
    A few days ago, I had the honor of addressing a joint session of 
Congress. I hope you had a chance to tune in and hear my plans for the 
Federal budget and my priorities for the country. After making my case 
to Congress, I headed out early the next morning on a swing through five 
States to bring my case directly to you, the American people.
    I approach our budget as American families do. First, we set 
priorities and funded them. My top priority is education reform. And I 
have asked that the Department of Education receive the largest 
percentage increase of any Federal agency. We increase funding for our 
reading programs and character education and recruiting good teachers. 
This time around, however, we won't be just spending more money; we will 
be setting higher standards and expecting real results for all our 
children.
    We're going to keep the promise of Social Security and keep the 
Government from raiding the Social Security surplus. And to safeguard 
the system against long-term threats, I will form a Presidential 
commission to reform Social Security and place it on firm financial 
ground. We will spend more on Medicare, as well, nearly doubling its 
budget in 10 years. But just as important, we will modernize Medicare to 
provide a prescription drug benefit for senior citizens. We will also 
support and strengthen America's military, starting with a pay increase 
and better housing for our troops.
    After meeting these national priorities, my budget pays down a 
record amount of national debt. We will pay off $2 trillion of debt over 
the next decade. That will be the largest debt reduction of any country, 
ever. Future generations shouldn't be forced to pay back money that we 
have borrowed. We owe this kind of responsibility to our children and 
grandchildren.
    And in addition to funding our priorities and reducing debt by a 
record amount, we set up a contingency fund of nearly $1 trillion, and 
we still have money left over. The surplus money that remains will be 
used for a broad, fair tax relief. A surplus, after all, is an 
overcharge of American taxpayers. And on your behalf, I am asking for a 
refund.
    My tax plan reduces income tax rates across the board, giving the 
largest percentage reductions to working families who need the most 
help. My plan reduces the marriage penalty and gets rid of the death 
tax. It will boost the economy and help create new businesses, new jobs, 
and new growth at a time when we need all three.
    When the tax cut takes effect, the typical family of four will save 
$1,600 every year. Some say that's not much. But they ought to talk to 
people like Steven and Josefina Aramos, young parents trying to build a 
better life for their family. Right now they pay about $8,000 a year in 
Federal income taxes. My plan will save this hardworking family more 
than $2,000. Steven says, and I quote, ``Two thousand dollars is a lot 
to my family. If we had this money, it would help us reach our goal of 
paying off our personal debt in 2 years time.''
    Well, I want the Aramos family and millions of others like them to 
meet their goals, and to live out their best hopes for themselves and 
their children. Our Federal budget must be good for the family budget.

[[Page 398]]

    That was my message to Congress on Tuesday. And now, I hope you'll 
send a message in favor of tax relief to your Congressman or your 
Senator. After all, the surplus is your money.
    Thank you for listening.

Note: The address was recorded at 1:05 p.m. on March 2 in the Cabinet 
Room at the White House for broadcast at 10:06 a.m. on March 3. The 
transcript was made available by the Office of the Press Secretary on 
March 2 but was embargoed for release until the broadcast.