July 29, 2005
JS-2659

Secretary's Snow's Statement on Second Quarter GDP Growth

"Today's announcement that our economy grew at a strong pace of 3.4 percent confirms the fact that America's economy is on the right path with 3.7 million jobs created since May of 2003, industrial production up 4 percent since last year, the stock market hitting a four year high, mortgage rates still lower than any time in the 1980s and 1990s and a rapidly declining federal deficit.

"President Bush is committed to keeping the economy on the path of healthy growth by making his tax cuts permanent, reducing the burden of frivolous lawsuits, passing a national energy policy and saving and strengthening Social Security. His economic agenda seeks to achieve an economy that will continue to be resilient and productive for generations to come."

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