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Department of State Washington File: Transcript: Bush Unveils Plan to Bolster Economic Expansion We must be more creative when we help those who have the hardest time finding work. To encourage innovation and more choices, and to help those who are out of work find the dignity of a new job, today, I'm unveiling a new approach to helping unemployed Americans through Personal Re-employment Accounts. Under this new program, Americans who face the greatest difficulties in finding work will receive up to $3,000 to use in their job search. They will have great flexibility in how they use that money. A person with a Re-Employment Account will be able to decide whether to use the funds for job training, or child care, or transportation, or even to cover the costs of relocating to another city for a new job. If the job is obtained quickly -- within 13 weeks -- the worker will be able to keep the cash balance as a "Re-employment bonus." ... [Read More]
USIS Washington File: TEXT: GORE SAYS EMPLOYMENT NUMBERS SHOW STRONG U.S. ECONOMY I want to make one further point. The volatility we saw in our financial markets this week -- and the difficulties being faced in some foreign economies -- show how the world's markets are interconnected, and how events in far away places can affect us in America. Today's employment numbers show that the fundamentals of the U.S. economy remain strong, even in a tumultuous world. But for that strength to continue, we must make sure our economic policies remain headed in the right direction. We need Congress to support paying our fair share of IMF (International Monetary Fund) funding, so the U.S. can continue its global economic leadership -- leadership that is good for the world, and good for our own future. ... [Read More]
Department of State Washington File: Economic Issues and the 2004 Presidential Campaign The cornerstone of President Bush's first-term domestic economic policy has been to reinvigorate the economy through four successive tax cuts. Bush argues that these tax reductions, by leaving more money with individuals and businesses, will enable them to spend and invest and thereby stimulate job-creating growth, which in turn will produce more tax revenue. The cuts have reduced taxes by nearly $600 billion during Bush's term, according to the Office of Management and Budget. Although the impact of the tax cuts is hard to precisely assess, the cuts, along with the increased federal spending and the Federal Reserve's cuts to interest rates, have contributed to continued economic growth since 2001. The Congressional Budget Office is forecasting a 4.5 percent expansion in 2004, the biggest since the 2001 downturn. ... [Read More]
Department of State Washington File: Transcript: Employment and Training Centers Planned for Iraq And they will be building these centers through many large cities first throughout Iraq, where displaced Iraqi citizens can come and receive employment services, such as being registered, resume-building, counseling, job referral, as well as being registered for training. And the training curriculum will be built to reflect jobs that actually exist in Iraq. And for some time, many people were trained to build arms and do things that were not contributing to the economic fabric of the country. The type of training these women will be developing in Iraq is going to be more reflective along the lines of construction, trades such as electricity, roofing, plumbing, as well as agriculture, and the things that will contribute long-term to the growth and also provide long-term employment stability to individuals so they can provide for themselves, their families, as well as Iraq itself. ... [Read More]
Department of State Washington File: Transcript: Trade Pact a Milestone in U.S.-Australia Relations, Bush Says One of the great economic achievements since the end of the Cold War has been the success of free and fair trade in raising up the world's poor, bringing hope to the world's hopeless, promoting freedom among the world's oppressed, and creating jobs at home and abroad. The same advantages that this agreement will bring to the United States and Australia can and should be available to the developing world. Our two nations are committed to the reduction of trade barriers and other restrictions that are keeping too much of the world from the kind of prosperity and opportunity that the developed world takes for granted. On Saturday, that commitment yielded an important result that will benefit manufacturers and farmers from America, Australia and the world. ... [Read More]
Department of State Washington File: Text: Protectionism Does Little to Create Jobs, Greenspan Says Moreover, real earnings of the average worker have continued to rise. Over the past century, per capita real income has risen at an average rate of more than 2 percent per year, declining notably only during the Great Depression of the 1930s and immediately following World War II. Incomes trended higher whether we had a trade deficit or a trade surplus and whether international outsourcing was large or small. More fundamental economic forces have apparently been at work. Research on wealth creation in both emerging and developed nations strongly suggests that it is the knowledge and the skill of our population interacting under our rule of law that determine our real incomes, irrespective of the specific jobs in which these incomes are earned and irrespective of the proportion of domestic consumption met by imports. ... [Read More]
Department of State Washington File: Text: U.S., Australia Sign Free Trade Agreement "As a result of this new freedom, trade between our nations is projected to rise by billions of dollars, creating more economic opportunity in both the United States and Australia. We are proud of this state-of-the-art agreement. In addition to freeing trade in industrial goods, the new FTA removes barriers to agricultural products, investment, government procurement, and services while increasing protection for intellectual property and freeing electronic commerce. Millions of Americans and Australians depend on vibrant and growing trade for their jobs. The U.S-Australia FTA will only add to that number," continued Zoellick. ... [Read More]
Department of State Washington File: Text: Democrat Kerry Proposes Ending Foreign Subsidiary Tax Deferrals Third, savings can finance a 25-percent tax credit for small businesses when they provide health care for their workers. The rise in health care costs under this Administration has hit everyone hard, but no one harder than small business owners and their employees. As the Chair of the Small Business committee in the Senate, I saw again and again how small businesses can be the engine of job creation -- and those jobs are the ones most likely to be created here and to stay here. ... [Read More]
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