[Weekly Compilation of Presidential Documents Volume 43, Number 30 (Monday, July 30, 2007)]
[Page 1021]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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 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, 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.