FROM THE OFFICE OF PUBLIC AFFAIRS
October 13, 2004
js-2027
Statement from Secretary John Snow on Comments
Made in Findlay, Ohio on October 11, 2004
I regret that recent remarks of mine have been misconstrued by critics of the Administration. Let me be clear, I regret the loss of any job. I know what it is like to lose a job. I know the pain it brings. That is why our focus every day is to put in place policies that will create jobs. In my comments, I was responding to criticisms of the President's economic policies and unfounded comparisons that are being made. Those charges are simply not credible.
The President inherited an economy in sharp decline and collapsing stock market bubble. Just as the economy was beginning to recover, it was hit by 9/11 and the corporate scandals. The President's leadership and policies turned this economy around and put it on a strong upward path. This was the key point I was making.
Since the President's policies have been implemented, we've seen continued strong economic growth: 13 straight months of job creation; an unemployment rate down to 5.4% -- lower than the average of the 1970s, 1980s, and 1990s; the highest level of home ownership in history; low inflation and low interest rates. Clearly this is a strong record.
We need to continue with the President's pro-growth policies that are working -- not raise taxes as some have suggested. Raising taxes would be a burden for families, hurt