The White House
President George W. Bush
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For Immediate Release
Office of the Press Secretary
February 6, 2007

Fact Sheet: Balancing the Budget Without Raising Taxes

      President Bush Discusses Fiscal Responsibility

Today, President Bush Visited Micron Technologies In Manassas, Virginia, To Discuss His FY 2008 Budget Proposal, Which Would Eliminate The Federal Deficit By 2012 Without Raising Taxes. By setting priorities and by spending taxpayer dollars wisely, we can balance the Federal budget without raising taxes on the American people.

Balancing The Budget Without Raising Taxes

Record Tax Revenues Generated By Our Growing Economy Have Helped Us Cut The Deficit By Over $150 Billion And Reach The President's Goal Of Cutting The Deficit In Half Three Years Ahead Of Schedule.

The President's Economic Policies Are Helping Keep Our Economy Strong And Growing. Since the President's tax relief took effect in mid-2003, more than 7.4 million jobs have been created more jobs than the European Union and Japan combined. Over half a million jobs (513,000) have been added in the past three months alone. Our economy has now added jobs for 41 straight months, paychecks are growing, and the unemployment rate remains low at 4.6 percent. The President asks Congress to help keep our economy growing by making his tax relief permanent. The President's tax relief:

Continuing To Spend Taxpayer Dollars Wisely

The President's Top Priority Is America's Safety And Security. The Budget ensures our troops have the tools and resources necessary to win the War on Terror.

While Investing In The Nation's Top Priorities, The Budget Restrains Spending Elsewhere By Focusing Resources On More Effective Programs, Reducing Wasteful Spending, And Addressing The Long-Term Challenge Of The Unsustainable Growth In Spending For Entitlement Programs. The President calls on Congress to further address these challenges by:

Investing In America's Competitiveness

The President's American Competitiveness Initiative (ACI) Will Help Innovative Companies Like Micron Maintain America's Competitive Edge. Announced in last year's State of the Union Address and reflected in the President's FY07 and FY08 budgets, ACI will encourage aggressive investment by business in research and development, increase and prioritize Federal support for vital basic research, and improve math and science education for America's students.

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