Today's Economy

Despite the recent recession and the terrorist attacks, the fundamentals of our economy are strong:

• Inflation and energy prices are low;
• Auto and retail sales are strong;
• New home sales are setting records;
• Wages are rising faster than inflation;
• Consumer spending remains strong; and
• Industrial production is increasing.

One reason the recession was one of the shortest and shallowest in history was because the tax cuts were well timed. The tax cuts will create 800,000 new jobs this year and they pumped $40 billion back into the pockets of consumers just when they needed it most.

As the President continues to pursue his agenda to create jobs; open foreign markets to American goods; help Americans save, invest and keep more of their money; and foster a new ethic of corporate responsibility; our economy will continue to grow.