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Skriven 2004-12-18 23:33:30 av Whitehouse Press (1:3634/12.0)
Ärende: Press Release (041218) for Sat, 2004 Dec 18
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President's Radio Address
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For Immediate Release
December 18, 2004

President's Radio Address


˙˙˙˙˙Audio

THE PRESIDENT: Good morning. This week my administration hosted an
important conference on America's economic future. We heard from business
owners, workers, economists, and many other Americans who are seeing
hopeful signs throughout our country. Our economy has come through a lot
these past four years and now our people are benefitting from solid
economic growth, steady gains in new jobs, record home ownership, and
rising family incomes.

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We also discussed some of the fundamental challenges facing our economy,
from junk lawsuits and burdensome regulation to the complicated tax code,
to the need for vital reforms in education, health care and entitlements. I
will work with members of both political parties to confront these problems
so we can keep our economy flexible, innovative and competitive, and so
America remains the best place in the world to do business.

Excessive litigation is one of the biggest obstacles to economic growth.
The tort system now costs America's economy more than $230 billion a year,
and no other country faces a greater burden from junk lawsuits. Our
litigious society deters job creation and consumes billions of dollars that
could be better spent on investment and expansion. Frivolous lawsuits put
American workers at a competitive disadvantage in the global economy and
have a devastating impact on the medical community. When Congress convenes
next year, the House and Senate need to pass sound reforms on our medical
liability, class action, and asbestos litigation systems.

Another challenge in our economy is the rising cost of health care. More
than half of all uninsured Americans are small business employees and their
families. And while many business owners want to provide health care for
their workers, they just can't afford the high cost. To help more Americans
get care, we need to expand tax-free health savings accounts, which are
already making a difference for small businesses and families. We should
encourage health information technology that minimizes error and controls
costs. And Congress must allow small firms to join together and buy health
insurance at the same discounts big companies get.

To grow their businesses and create jobs, small business owners also need
relief from excessive taxes and regulation. The tax relief we passed has
been critical to our economic recovery, and Congress needs to make that tax
relief permanent. We also need to reform our complicated tax code to
encourage investment and growth, and reduce headache for taxpayers. And to
promote innovation in hiring, we must lift the burden of needless federal
regulation on hardworking entrepreneurs.

As our businesses create advanced, high-paying jobs, we must ensure that
workers have the education and skills to fill those jobs. We've made a good
start with the No Child Left Behind Act, which is already helping students
make progress in the early grades. Now we need to bring high standards and
accountability to high schools, and make sure job-training programs prepare
workers for the innovative jobs of the 21st century.

To help our young people we must also fix the long-term problems in the
Social Security system. Workers in their mid-20s today will find Social
Security bankrupt when they retire, unless we act to save it. As we reform
and strengthen the system we will deliver all the benefits owed to current
and near retirees. We must not increase payroll taxes. And we must tap into
the power of markets and compound interest by giving younger workers the
option of saving some of their payroll taxes in a personal investment
account, a nest egg they call their own, which the government can never
take away.

The week's conference provided a good opportunity to discuss our economic
challenges with Americans from many backgrounds, and to set the issues
clearly before Congress. I'm open to good ideas from Democrats and
Republicans. I will work with any who shares our goal of strengthening the
economy. But I will not ignore these challenges and leave them to another
day. We have a duty to the American people to act on these issues, and we
will get results.

Thank you for listening.

END
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