Welcome to "Ask the White House" -- an online interactive forum where you can submit questions to Administration officials and friends of the White House. Visit the "Ask the White House" archives to read other discussions with White House officials.
|
|
June 18, 2004
John Snow Hello, I'll be taking your questions from Las Vegas, Nevada, where I'm visiting with business leaders and homebuilders to talk about our economy and how to make sure we keep creating jobs for Americans searching for work. We're on a terrific upward path, economically, with GDP growth the highest it has been in 20 years and one million jobs created in the last 100 days. Now we need to make sure that we stay on this course of growth. I look forward to your questions, so let's get started. Jennifer, from Tennessee writes: John Snow
In the first quarter of this year, the economy grew at a strong 4.4 percent annual rate, combining with the last half of 2003 for the strongest three-quarter growth rate in 20 years. Nearly 1 million jobs have been created in the past 100 days. Consumer and business confidence is up, retail spending is strong and home sales are continuing at solid rates. Karen, from Portland writes: largest unemployed people on record. John Snow
Oregon has been especially hard hit by the decline in the tech sector, but has seen an upturn in recent months. In the past two months, the state added more than 15,000 new jobs and the unemployment rate fell from 7.2 to 6.8 percent. jay, from charlotte writes: John Snow GDP, the best overall measure of economic activity, has risen over the past year at the fastest rate in 20 years. Productivity, which translates into faster income growth and a higher standard of living, grew at the fastest 3-year rate in 5 decades from 2000-2003. Since the President has been in office, after-tax income has risen by 11 percent that means Americans are keeping more of their hard-earned money. Today household wealth and homeownership rates are at all-time highs.
The Presidents economic leadership and pro-growth policies have led to an economy that is firing on all cylinders.
Marilyn, from Atlanta, GA
writes: John Snow The unemployment rate is lower than the average of the 1970s, 1980s and 1990s. In nine consecutive months of job growth weve added more than 1.4 millions jobs.
Were encouraged by this, but not satisfied. There is more to be done and the President is committed to ensuring that every American looking for work can find a job. Evan, from Evan writes: John Snow
Today the Department of Labors Bureau of Labor Statistics reported the state-by-state breakdown of where those jobs were created. That breakdown showed that job creation was up in 44 of the 50 states in the last year, and the unemployment rate was down in all regions and in 46 of the 50 states. Donna, from Kettering, Ohio
writes: John Snow Antje, from Camden, North Carolina
writes: John Snow It's almost as if we have recovered economically, but not emotionally, from the economic shocks our country went through in the recent past.
In fact, the speed and strength of our economic recovery was incredible - just a year ago economists worried about a double-dip recession and now we're seeing the strongest growth in 20 years - and maybe that is part of the reason why people don't seem to know; the strength of our economy came back with such velocity. Paul, from Spencer, MA writes: John Snow
Congress must pass a national energy policy that increases domestic production and increases incentives for conservation and new technologies so we are less dependent on foreign sources of energy. High gas prices reflect a shortage of supply, increasing demand, and insufficient or old pipeline and refinery capacity. Finlay, from Portland writes: John Snow These are good jobs in growing industries. Its also important to note that real disposable income is up 11% since the President took office, total compensation is up nearly 4% in the last year, and household wealth is at an all-time high.
John Snow |