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

For Immediate Release
Office of the Press Secretary
February 11, 2008

Fact Sheet: The Economic Report of the President

President Bush Submits Report To Congress Reviewing Our Nation's Economic Outlook, Showing How Continuing Pro-Growth Policies Will Benefit Our Economy

Today, the White House released the Economic Report of the President, an annual report to Congress on the Nation's economic progress. The report released today reviews the state of the U.S. economy, the outlook for the next several years, and a wide variety of economic issues that underlie many of the Administration's economic policies. The full report, written by the President's Council of Economic Advisers, is available at: /cea/pubs.html.

Chapter 1: The Year In Review And The Years Ahead

Economic expansion continued for the sixth consecutive year in 2007. This economic growth came despite a weak housing sector, credit tightening, and high energy prices. Sustained growth has resulted from U.S. economic flexibility, openness and other pro-growth policies. Signs that the economy is slowing, however, led the President to call on the Congress to enact a short-term economic growth package. Chapter 1 reviews the past year and discusses the Administration's forecast for the years ahead. The key points are:

Chapter 2: Credit And Housing Markets

In the summer of 2007, the ongoing contraction in the U.S. housing market worsened and credit markets experienced a substantial disruption. Chapter 2 reviews the developments in the housing and credit markets, and describes public and private responses. The key points are:

Chapter 3: The Causes And Consequences Of Export Growth

One noteworthy development in recent years has been the rapid growth of U.S. exports. This growth has provided clear benefits to entrepreneurs and workers in export-oriented industries, and to the economy as a whole. Chapter 3 identifies the primary factors that have driven recent export growth and discusses several longer-term trends that have lifted exports over time. More broadly, the chapter addresses the benefits that flow from open trade and investment policies as well as some related challenges. The key points of this chapter are:

Chapter 4: The Importance Of Health And Health Care

The American health care system is an engine for innovation that develops and broadly disseminates advanced, life-enhancing treatments and offers a wide set of choices for consumers of health care. The health care system provides enormous benefits, but there remain substantial opportunities for improvements that would reduce costs, increase access, and improve quality, thus providing even greater health for Americans. Chapter 4 examines the economics of health and health care. The key points in this chapter are:

Chapter 5: Tax Policy

Economists and policymakers have long debated the appropriate role of the government in a market economy. The government can provide public services and transfer payments to lower income individuals, but these benefits often come at the cost of higher taxes and lower economic output. The key points in this chapter are:

Chapter 6: The Nation's Infrastructure

Our economy depends on infrastructure that allows goods, people, information, and energy to flow throughout the nation. As our economy grows and our infrastructure faces growing demand, policy should support investments that ensure that existing capacity is used as efficiently as possible. Chapter 6 discusses some of the economic issues associated with major transportation, communication, and power transmission systems. The key points in this chapter are:

Chapter 7: Searching For Alternative Energy Solutions

Chapter 8: Improving Economic Statistics

Statistical systems have substantial value for both public policymakers and private decision makers. Chapter 8 examines several key issues in economic statistics, including the role of Federal statistical programs in a dynamic economy, the importance of continuity in statistical series, and ways to improve the value of existing statistical data. The key points are:

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