Presidential Radio Address - 5 January 2002

THE PRESIDENT: Good morning. The events of September the 11th left America sadder and stronger, and they clarified some important goals for our country. We have a war to wage and a recession to fight. Defending our country and strengthening our economy are great priorities for 2002. We must be determined and we must keep our focus.

This Saturday, I'm traveling in Oregon and California, talking with people who have been hit hard by the economic downturn. When I return to Washington on Monday, I will be meeting with my economic advisors and other officials to discuss the latest economic data and work for a quick recovery for our economy.

My administration has offered our ideas for creating new jobs. I've proposed speeding up the tax reductions Congress passed last year, because the faster tax rates come down, the faster our economy will grow.

I have proposed tax refunds for lower and moderate income families, to put money in the hands of people with kids to support and bills to pay. I have proposed reforming the alternative minimum tax so employers and entrepreneurs no longer see their taxes rise as their profits shrink. In tough times, we need to encourage entrepreneurship and small business growth, not punish it.

I've proposed better tax treatment for employers and entrepreneurs who invest in new equipment, which will help the hardworking people who use the equipment and those who manufacture the equipment.

The Council of Economic Advisors estimates that these ideas could save at least 300,000 threatened jobs.

I'm also calling on Congress to act immediately to help the unemployed workers. I've proposed extending unemployment benefits by 13 weeks, and I've supported tax credits to protect the health insurance of workers who've been laid off.

But we can't stop there. It is important to help workers who've lost their jobs. It is even more important to help workers find new jobs. In tough times, people need a unemployment check; but what they want is a paycheck. Americans want the independence of a job, and the satisfaction of providing for their families themselves. A job is more than a source of income; it is a source of dignity.

I made my proposals to create new jobs and help dislocated workers on October the 4th, three months and 943,000 lost jobs ago. The House of Representatives accepted my proposals. But the Senate Democratic leadership would not even schedule a vote. Some in the Senate seem to think we can afford to do nothing, that the economy will get better on its own, sooner or later. I say that if your job is in danger or you have a loved one out of work, you want that recovery sooner, not later.

We need a plan to lengthen unemployment benefits, we need a plan to shorten the recession. The Senate should act on both. America's workers cannot afford more delay.

Thank you for listening.