Pelosi Statement on President Bushs Remarks on the Economy
April 24, 2003
President Bush promised today to roll up his sleeves to get the economy moving again. Yet if he really wanted to roll up his sleeves and get to work creating jobs, he would not keep promoting his misguided economic policy that provides tax cuts only for those who need it least, explodes the deficit, and does not create jobs.
Two years ago, the Republican-controlled Congress approved President Bushs proposal for an enormous tax cut for the wealthy, promising that it would grow the economy. Instead, a record surplus has turned into a record deficit; 2.6 million private-sector jobs have been lost, factory orders are down; manufacturing is down; and retailers are predicting that sales this year will grow at the slowest pace in a decade.
"Democrats have a better way. We support targeted tax cuts that would create jobs by giving incentives to small businesses to invest and cut taxes on hardworking Americans who are most likely to put the extra money back into our economy.
Our fiscally responsible economic plan would create 1 million new jobs this year, five times more than the Republican proposal. The Democratic proposal is fair, fast acting and fiscally sound.
The President's plan fails on all points. The Presidents own economic advisors say his plan will not create enough jobs to make up for those lost in the past two months, let alone the past two years."
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