Discurso Radial del Presidente a la Nación 01/19/08

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Buenos Días.

Ayer visité a Wright Manufacturing – un negocio en Frederick, Maryland que fabrica cortacéspedes comerciales. Los negocios como Wright son la fuerza motriz detrás de nuestro éxito económico. Crean empleos y oportunidades para millones de trabajadores. Y empresarios como aquellos en Wright Manufacturing mantienen creciendo a nuestra economía.

Este es un período de desafío para nuestra economía y sé que muchos de ustedes están preocupados en cuanto al futuro. Mis asesores y muchos expertos externos esperan que la economía siga creciendo en el próximo año, pero a una tasa más lenta que la que hemos gozado en los últimos años. Y hay el riesgo de una baja. Por ejemplo, si continúa la inestabilidad en el mercado de la vivienda, podría causar daño adicional a la economía en su conjunto, y poner en peligro a nuestro crecimiento y la creación de empleos.

En meses recientes, hemos tomado pasos para apuntalar el sector de la vivienda – incluyendo medidas para ayudar a dueños de casa con dificultades a evitar la ejecución hipotecaria y quedarse con sus hogares. También he pedido al Congreso que apruebe legislación para modernizar la Administración Federal de la Vivienda y permitirle ofrecer más ayuda a dueños de casa con dificultades. El Congreso debe enviarme sin demora un proyecto de ley con estas reformas.

Después de minuciosa consideración y discusión con miembros del Congreso, he llegado a la conclusión de que se necesita acción adicional para mantener creciendo a nuestra economía y crear empleos. El Congreso y mi Administración necesitan trabajar juntos para promulgar un paquete para el crecimiento económico lo más pronto posible.

Mientras el Congreso considera un tal plan, hay ciertos principios que deberán orientar sus deliberaciones: Este paquete de crecimiento debe ser lo suficientemente grande para hacer una diferencia en una economía tan grande y dinámica como la nuestra – lo que significa que deberá ser de aproximadamente un por ciento del Producto Nacional Bruto, o GDP por sus siglas en inglés. Este paquete de crecimiento deberá estar basado en un alivio tributario de base amplia que afecte directamente al crecimiento económico – no el tipo de proyectos de gastos que tendría poco impacto inmediato sobre nuestra economía. Este paquete de crecimiento debe ser provisional y ponerse en práctica inmediatamente – a fin de que podamos ayudar a nuestra economía cuando más lo necesita. Y este paquete de crecimiento no debe incluir ningún aumento en los impuestos.

Específicamente, este paquete de crecimiento deberá estimular tanto la inversión comercial como los gastos por consumidores, que son críticos para el crecimiento económico. Esto exige dos disposiciones claves: para ser efectivo, un paquete de crecimiento debe incluir incentivos tributarios para los negocios estadounidenses – incluyendo los pequeños negocios – para que inviertan en sus empresas este año. Y también debe incluir alivio del impuesto sobre los ingresos que sea directo y rápido para estadounidenses como ustedes.

El aprobar un nuevo paquete de crecimiento es nuestra prioridad económica más urgente. Y cuando se haya logrado, el Congreso deberá virar su atención a la prioridad económica más importante para nuestro país – la de asegurar que no se les quite el alivio tributario actualmente en efecto. A menos de que el Congreso actúe, la penalidad por matrimonio volverá a aparecer, el crédito tributario por hijo(a) menor será cortado por la mitad, el impuesto por defunción aparecerá de nuevo y subirán las tasas de los impuestos sobre el ingreso ordinario, las ganancias de capital y los dividendos. Este aumento en los impuestos pondría en riesgo los empleos y el crecimiento económico. De modo que es crítico que el Congreso haga permanente este alivio tributario.

Me siento optimista en cuanto a nuestra economía, ya que continuamente personas como ustedes han mostrado que los estadounidenses son las personas más trabajadoras, creativas y emprendedoras en el mundo. Es eso que ha hecho fuerte a nuestra economía. Y es eso que la hará más fuerte en los tiempos de desafío por delante.

Gracias por escuchar.

Para su publicación inmediata Oficina del Secretario de Prensa 19 de enero de 2008

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President Bush Discusses Economy, Growth Package VIDEO

With Vice President Dick Cheney looking on, President George W. Bush delivers a statement in the Roosevelt Room of the White House Friday, Jan. 18, 2007, regarding the economy of the United States. White House photo by Joyce N. Boghosian

President Bush Discusses Economy, Growth Package FULL STREAMING VIDEO running time is 6:48 Roosevelt Room In Focus: Economy and Fact Sheet: Taking Action to Keep Our Economy Healthy 11:34 A.M. EST. THE PRESIDENT: Over the past several months I've held a series of meetings with my economic team on the outlook for the U.S. economy. And before I left for the Middle East, I directed them to conduct a thorough assessment of our economic condition, consult with members of Congress, and provide me with their recommendations about any actions we might need to take. The economic team reports that our economy has a solid foundation, but that there are areas of real concern. Our economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and exports are still rising, but the cost of imported oil has increased.

My administration has been watching our economy carefully. My advisors and many outside experts expect that our economy will continue to grow over the coming year, but at a slower rate than we have enjoyed for the past few years. And there is a risk of a downturn. Continued instability in the housing and financial markets could cause additional harm to our overall economy, and put our growth and job creation in jeopardy.

In recent months, we've taken steps to shore up the housing market, including measures to help struggling homeowners avoid foreclosure and to keep their homes. I've also asked Congress to pass legislation to modernize the Federal Housing Administration and enable it to provide additional assistance to struggling homeowners. The House passed a bill and the Senate passed a bill, and now they need to get together and get a bill to my desk as quickly as possible.

After careful consideration, and after discussions with members of Congress, I have concluded that additional action is needed. To keep our economy growing and creating jobs, Congress and the administration need to work to enact an economic growth package as soon as possible.

As Congress considers such a plan, there are certain principles that must guide its deliberations: This growth package must be big enough to make a difference in an economy as large and dynamic as ours -- which means it should be about 1 percent of GDP. This growth package must be built on broad-based tax relief that will directly affect economic growth -- and not the kind of spending projects that would have little immediate impact on our economy. This growth package must be temporary and take effect right away -- so we can get help to our economy when it needs it most. And this growth package must not include any tax increases.

Specifically, this growth package should bolster both business investment and consumer spending, which are critical to economic growth. And this would require two key provisions: To be effective, a growth package must include tax incentives for American businesses, including small businesses, to make major investments in their enterprises this year. Giving them an incentive to invest now will encourage business owners to expand their operations, create new jobs, and inject new energy into our economy in the process.

To be effective, a growth package must also include direct and rapid income tax relief for the American people. Americans could use this money as they see fit -- to help meet their monthly bills, cover higher costs at the gas pump, or pay for other basic necessities. Letting Americans keep more of their own money should increase consumer spending, and lift our economy at a time when people otherwise might spend less.

Yesterday, I spoke to members of the congressional leadership from both political parties. They shared with me their thoughts on the best way forward. And I was encouraged by those discussions and I believe there is enough broad consensus that we can come up with a package that can be approved with bipartisan support. I've asked Treasury Secretary Hank Paulson to lead my administration's efforts to forge an agreement with Congress, so that we can deliver this needed boost to our economy as quickly as possible.

Passing a new growth package is our most pressing economic priority. When that is done, Congress must turn to the most important economic priority for our country, and that's making sure the tax relief that is now in place is not taken away. A source of uncertainty in our economy is that this tax relief is set to expire at the end of 2010. Unless Congress acts, the American people will face massive tax increases in less than three years. The marriage penalty will make a comeback; the child tax credit will be cut in half; the death tax will come back to life; and tax rates will go up on regular income, capital gains, and dividends. This tax increase would put jobs and economic growth at risk, and Congress has a responsibility to keep that from happening. So it's critical that Congress make this tax relief permanent.

We're in the midst of a challenging period, and I know Americans are concerned about our economic future. But our economy has seen challenging times before -- and it is resilient.

In a vibrant economy, markets rise and decline. We cannot change that fundamental dynamic. As a matter of fact, eliminating risk altogether would also eliminate the innovation and productivity that drives the creation of jobs and wealth in America. Yet there are also times when swift and temporary actions can help ensure that inevitable market adjustments do not undermine the health of the broader economy. This is such a moment.

By passing an effective growth package quickly, we can provide a shot in the arm to keep a fundamentally strong economy healthy. And it will help keep economic sectors that are going through adjustments, such as the housing market, from adversely affecting other parts of our economy.

I'm optimistic about our economic future, because Americans have shown time and again that they are the most industrious, creative, and enterprising people in the world. That is what has made our economy strong. That is what will make it stronger in the challenging times ahead.

Thank you. END 11:38 A.M. EST

For Immediate Release Office of the Press Secretary January 18, 2008

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