America's Economy Growing

Floor Speech

Mr. WILSON of South Carolina. Mr. Speaker, last Friday, it was reported that U.S. productivity grew at the fastest clip in more than a year, signaling a steady growth of the economy. Non-farm business productivity surged at a 4.1 percent annual rate. The increase exceeded economists' expectations and was almost twice that of the prior quarter.

This has caused a gauge of inflationary pressure to drop. When productivity rises smartly, employers can raise and boost wages without fueling inflation. Increasing productivity helps us compete with China so that we can export more to China.

I believe this success is due to the tax cuts enacted by President Bush. The Bush policies have caused the gross domestic product to surge by 3.8 percent. It has created over 4 million jobs. The stock market has appreciated over $6 trillion. There is a record percentage of homeownership; and, for the first time ever, over 50 percent of minorities own their own homes.

I appreciate President Bush's leadership. I look forward to more successes.

In conclusion, God bless our troops, and we will never forget September 11.

Source