President Discusses Strong Economic Growth and Job Creation

THE PRESIDENT: Thanks to good, old-fashioned American hard work and productivity, innovation, and sound economic policies of cutting taxes and restraining spending, our economy continues to gain strength and momentum.

Our economy added 215,000 jobs for the month of November. We've added nearly 4.5 million new jobs in the last two-and-a-half years. Third-quarter growth of this year was 4.3 percent. That's in spite of the fact that we had hurricanes and high gasoline prices. The unemployment rate is 5 percent. And that's lower than the average for the 1970s, 1980s, and 1990s.

We have every reason to be optimistic about our economic future. I mean, when you think about the news that's come in, the jobs report, the recent report on strong economic growth, low inflation, strong productivity, lower gasoline prices, a strong housing market, increases in consumer confidence and business investment, our economic horizon is as bright as it's been in a long time.

The foundation for growth is strong. It's based upon low taxes and restrained government spending, legal reform, incentives for saving and investment.

The small business sector is vibrant. Most new jobs in America are created by the small business sector, and our entrepreneurs are doing well. We got the best work force in America -- in the world. People are productive, they're hardworking. Our ingenuity and know-how and -- is vibrant. This economy is in good shape.

We're not going to rest until every American who wants a job can find one. We're going to continue to work for good policies for our workers and our entrepreneurs. I'll continue to push for pro-growth economic policies, all aimed at making sure every American can realize the American Dream.

Thank you very much.

END 10:48 A.M. EST

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