Bush Economic Boom is in Full Swing

Floor Speech

(Mr. WILSON of South Carolina asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. WILSON of South Carolina. Mr. Speaker, in this past Sunday's Washington Times, the highly revered economist Lawrence Kudlow spelled out very clearly how President George W. Bush's strong economic policies have produced a sustained surge in the economy.

Mr. Kudlow rightly said that "over the past year, following the enactment of the President's tax cut plan, real economic growth has increased 5 percent with only 1.6 percent inflation. After-tax profits have increased 37 percent. Business spending on equipment and software has grown 12.5 percent. Since last August, 1.1 million jobs have been created.
Spendable income has increased 4.9 percent, and consumer spending is up 4.3 percent."

Indeed, not since Ronald Reagan was President has our economy grown faster. There can no longer be any question what effect lower taxes have on the economy. When Americans have more of their own money to spend and invest, the economy soars.

President Bush should be proud that despite the battles he faced in making these tax cuts a reality, his vision for more jobs and a prosperous America has come true.

In conclusion, may God bless our troops, and we will never forget September 11.

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