February 14, 2006
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U.S. Treasury Secretary John W. Snow Statement Retail Sales and U.S. Economic Strength

"Today's report on retail sales is yet another unmistakable sign that the U.S. economy is strong, it is heading in the right direction and Americans are confident. With a jump of 2.3 percent for January, this was one of the biggest month-to-month increases in over a decade and a half.

"Today's news is what we expect to see when consumers are confident about the economy and optimistic about the future. And it is no wonder they are feeling that way, given the strength in the job market, with low unemployment, new claims for unemployment insurance at the lowest level since the peak of the high-tech boom and real wages rising.

"There can be no question that the American economic expansion is continuing and that's good news for the American people. But, to remain on this positive path we must maintain the good economic policies that led us here. Low tax rates on income and investment must be made permanent. Now is not the time for a tax increase."