The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
October 26, 2005

Fact Sheet: President Bush Outlines An Agenda for Economic Growth

     Fact sheet President Outlines Economic Growth Agenda

Today's Presidential Action

Today, President Bush Addressed The Economic Club Of Washington D.C. And Discussed His Agenda For A Strong And Vibrant Economy. To ensure continued opportunity for America's workers and entrepreneurs, President Bush outlined a pro-growth agenda based on sound economic policy that promotes prosperity, productivity, and innovation in a global economy. He will keep government on the side of economic growth and job creation so America's businesses and workers can compete and prosper.

In The Face Of Challenges, The President Has Acted To Maintain Economic Growth. Over the past five years, the economy has endured the bursting of the stock market bubble, a recession, the attacks of September 11, corporate scandals, rising oil prices, and natural disasters. Each time, the President has acted to keep our economy moving by putting trust in the hard work and good sense of the American people. The President has cut taxes for everybody who pays income taxes, including families, small business owners, farmers, and entrepreneurs.

While The President's Policies Have Helped Create Jobs, Growth, And Opportunity, There Is More Work To Be Done. The coming decades will be a time of tremendous opportunity, and the Administration is working to ensure every American has a chance to realize the American Dream. The President is moving forward with an ambitious agenda to ensure the economy remains the most free, flexible, and prosperous in the world.

The President's Agenda To Maintain Economic Growth

The Administration Will Continue To Keep Taxes Low And Work To Restrain Federal Spending. Tax relief left more money in the pockets of the American people. Vital to maintaining the economy's momentum, the President has called upon Congress to make tax relief permanent. Tax relief has led to faster economic growth which has translated into faster revenue growth for the Federal Treasury. This year, the deficit was $108 billion less than expected. To continue reducing the deficit, the President has submitted a disciplined budget that proposed an actual cut in spending on non-security discretionary programs and will keep the government on track to cut the deficit in half by 2009. As we help the people of the Gulf Coast rebuild, the President will work with Congress to further reduce unnecessary spending and cut programs that are not working so as to provide for emergency relief in a fiscally responsible way.

The Administration Is Addressing Long-Term Economic Challenges. While our economy has shown remarkable resilience, we must continue to make it more flexible and responsive so that it can meet the needs of a new era. This work begins with confronting three broad challenges that affect all Americans.

The United States Needs To Confront The Long-Term Problems Facing Our Entitlement Programs. The experiences of nations in Europe and elsewhere show that a failure to control entitlement spending can become a drag on the entire economy. The President will continue to insist that Congress address this vital issue and save Social Security for our children and grandchildren.

To Keep The Economy Growing And Creating Jobs, The Government Needs To Continue Opening Foreign Markets To American Products. Today, millions of American jobs depend on exports including about one in every five factory jobs. Our country is home to about 5 percent of the world's population, and that means 95 percent of our potential customers are abroad. American workers can compete with anyone as long as the playing field is level.

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