MOVING THE ECONOMY -- (House of Representatives - June 07, 2006)
Mr. KINGSTON. Mr. Speaker, in 2003, our country was in a very tough recession. George Bush took a bold step to reduce taxes. Now, the Democrats did not like to have tax cuts, because they like to spend your money, because they actually believe that the wisdom in Washington is better than the wisdom on Main Street, America. But as a result of tax reduction, we now have five million new jobs since 2003 that have been created.
The unemployment rate is at 4.6 percent, 4.6 percent. That is lower than the unemployment rate was on average in the 1990s, the 1980s, the 1970s, and the 1960s. Sixty-nine percent of Americans own their own house now. It is a historic high not just for the United States of America, but for any country. Fifty-two percent of Americans are invested in the stock market, creating wealth for their themselves. The interest rates are down and the mortgage rates have remained competitive.
The economy is moving because of Bush economic policies. The last thing we need to do right now is increase taxes and throw these great economic policies out the door.