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CNN Live Saturday
Recent Economic News Good For White House
Aired November 08, 2003 - 14:18 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KELLI ARENA, CNN ANCHOR: With unemployment falling and output rising, President Bush focused his Saturday radio address on the improving economy. He touted recent gains, but he warned that early signs of progress must be made into lasting gains for all. More now from CNN White House Correspondent Suzanne Malveaux -- Suzanne.
SUZANNE MALVEAUX, WHITE HOUSE CORRESPONDENT: Well, Kelli these new economic numbers are really a huge political boost for the president, although the White House officials are trying not to gloat at this time.
It was just yesterday that President Bush was in Winston-Salem, North Carolina that is where he was talking to a technical community college, highlighting his jobs and growth package. Now the president for weeks has been talking about Iraq in his weekly radio address, but now he is turning to the economy, using this occasion to point to the progress, of proof that his tax cuts are working.
(BEGIN AUDIO CLIP)
GERORGE W. BUSH, PRESIDENT OF THE UNITED STATES: This week we heard some good news about the effects of tax relief on the American economy. The Department of Labor reported that our economy added 126,000 new jobs in October. And over the past three months, there were 286,000 new jobs. The unemployment rate fell to 6 percent. The four-week average for jobless claims has declined in six of the past seven weeks, and manufacturers reported that orders and shipments are both rising.
(END AUDIO CLIP)
MALVEAUX: Now, there are two top priorities for the White House and for voters, that is the state of Iraq, as well as the state of the economy. There are some Democratic presidential hopefuls that are worried that this will take away from their case saying the president is not a good steward of the economy, but they point to weaknesses that the administration, they said that they're vulnerable when it comes to this ballooning federal deficit, also the fact that the manufacturing sector is still losing jobs and they make the argument that these tax cuts really only benefit America's wealthy.
(BEGIN AUDIO CLIP)
REP. CHET EDWARDS, (D) TEXAS: I have great concern that trillion dollar tax cuts to some of America's wealthiest families have cut into our promise to support a decent quality of life for our military families and quality healthcare for our veterans. (END AUDIO CLIP)
MALVEAUX: Now, both the White House and Democrats will be using, making their case, using the military as an example Kelli. There's really no surprise in that considering that Tuesday is Veterans' Day -- Kelli.
ARENA: All right, Suzanne Malveaux from the White House. Thanks very much.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired November 8, 2003 - 14:18 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KELLI ARENA, CNN ANCHOR: With unemployment falling and output rising, President Bush focused his Saturday radio address on the improving economy. He touted recent gains, but he warned that early signs of progress must be made into lasting gains for all. More now from CNN White House Correspondent Suzanne Malveaux -- Suzanne.
SUZANNE MALVEAUX, WHITE HOUSE CORRESPONDENT: Well, Kelli these new economic numbers are really a huge political boost for the president, although the White House officials are trying not to gloat at this time.
It was just yesterday that President Bush was in Winston-Salem, North Carolina that is where he was talking to a technical community college, highlighting his jobs and growth package. Now the president for weeks has been talking about Iraq in his weekly radio address, but now he is turning to the economy, using this occasion to point to the progress, of proof that his tax cuts are working.
(BEGIN AUDIO CLIP)
GERORGE W. BUSH, PRESIDENT OF THE UNITED STATES: This week we heard some good news about the effects of tax relief on the American economy. The Department of Labor reported that our economy added 126,000 new jobs in October. And over the past three months, there were 286,000 new jobs. The unemployment rate fell to 6 percent. The four-week average for jobless claims has declined in six of the past seven weeks, and manufacturers reported that orders and shipments are both rising.
(END AUDIO CLIP)
MALVEAUX: Now, there are two top priorities for the White House and for voters, that is the state of Iraq, as well as the state of the economy. There are some Democratic presidential hopefuls that are worried that this will take away from their case saying the president is not a good steward of the economy, but they point to weaknesses that the administration, they said that they're vulnerable when it comes to this ballooning federal deficit, also the fact that the manufacturing sector is still losing jobs and they make the argument that these tax cuts really only benefit America's wealthy.
(BEGIN AUDIO CLIP)
REP. CHET EDWARDS, (D) TEXAS: I have great concern that trillion dollar tax cuts to some of America's wealthiest families have cut into our promise to support a decent quality of life for our military families and quality healthcare for our veterans. (END AUDIO CLIP)
MALVEAUX: Now, both the White House and Democrats will be using, making their case, using the military as an example Kelli. There's really no surprise in that considering that Tuesday is Veterans' Day -- Kelli.
ARENA: All right, Suzanne Malveaux from the White House. Thanks very much.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
