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Skriven 2005-08-09 23:35:02 av Whitehouse Press (1:3634/12.0)
Ärende: Press Release (0508091) for Tue, 2005 Aug 9
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President Bush Discusses Agenda for Continued Economic Growth
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For Immediate Release
Office of the Press Secretary
August 9, 2005

President Bush Discusses Agenda for Continued Economic Growth



FACT SHEET

Today, President Bush Met With His Economic Advisors To Discuss The
Strength Of Our Economy. From new jobs to GDP growth to increased
productivity to low inflation, America's economy today is strong. The
economy has generated nearly 4 million new jobs since May 2003, and the
unemployment rate is 5 percent, the lowest since before September 11.
  þ President Bush And Congress Have Worked Together To Support Continued
    Economic Growth. President Bush has already won several key legislative
    victories in his second term, including the Central America and
    Dominican Republic Free Trade Agreement, energy legislation, and the
    highway bill, as well as class action and bankruptcy reform.
  þ The President's Economic Agenda Is Based On His Fundamental Trust In
    The American People To Make Good Decisions. The President's policies
    allow more Americans to keep more of what they earn, and to have more
    control of their daily lives - from health care to education to their
    retirement.
  þ President Bush Has Put Forth An Ambitious Agenda To Ensure That
    America's Economy Continues Robust Growth. To ensure the economy
    remains strong, President Bush has called on Congress to act on other
    aspects of his agenda. His plans include making his tax cuts permanent,
    restraining spending by the Federal government and cutting the Federal
    deficit in half, reducing unnecessary regulation, strengthening
    retirement security, reforming the tax code, protecting small business
    owners and workers from frivolous lawsuits, comprehensively reforming
    our immigration laws, and making health care more affordable for all
    Americans.

The Economy Is Strong And Continues To Grow
  þ Strong and Steady Job Growth Continues - 207,000 New Jobs Created In
    July. Payroll employment rose by 207,000 in July, and the economy has
    created more than 2.2 million jobs over the past 12 months. We have
    seen steady job gains for each of the last 26 months - and more
    Americans are working than ever before.
  þ Economic Indicators Show Sustained, Robust Growth. Recently released
    Commerce Department figures show that the U.S. economy grew at a solid
    3.4 percent annual rate in the second quarter, the ninth straight
    quarter in which GDP increased at a rate above 3 percent. Smaller
    inventory figures from the most recent data also signal further growth
    in the near term.
  þ Manufacturing Continues To Increase. The Institute for Supply
    Management, a private research group, reports manufacturing output
    expanded for the 26th consecutive month in July - and at a faster pace
    than in the previous month. ISM's manufacturing index rose to 56.6 last
    month, up from 53.8 in June.
  þ Industrial Production Is Booming. Production increased at the fastest
    rate in 16 months, with the Federal Reserve reporting that industrial
    output increased 0.9 percent, nearly three times faster than the
    previous month's gain.
  þ Demand For Durable Goods Increases. The Commerce Department reported
    that orders for durable goods in June rose by 2 percent, to a total of
    $216.7 billion - the third straight month of growth.
  þ Consumer Spending Grows At A Healthy Rate. The most recent data show
    consumer spending up by a strong 0.8 percent, the biggest increase
    since July 2004. Retail sales grew at a higher-than-expected 1.7
    percent.
  þ No Signs Of Consumer Inflation. The Consumer Price Index (CPI) from the
    Labor Department indicates inflation is well contained.
  þ Home Sales Continue To Set Records. Sales of both new and existing
    homes reached all-time highs, as the strong housing market continues to
    be powered by strong job growth and low interest rates. New home sales
    rose 6.1 percent from the first quarter, while sales of existing homes
    rose 5.6 percent.

Surge In Revenues Slashes Federal Deficit. An increase in revenue and
spending restraint caused the deficit to decrease, and the mid-year budget
forecast shows that the government is ahead of schedule to reach President
Bush's goal of cutting the deficit in half by 2009.

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