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Bush Report Declares Economy Recovering

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) -- Declaring that "America's economy is strong and getting stronger," President Bush told Congress Monday in his annual economic report that last year's tax cut was doing the job in reviving business growth.

This year's 412-page "Economic Report of the President," is considerably more upbeat than Bush's report a year ago, issued at time when the country was still mired in a lackluster recovery with the unemployment rate continuing to rise.

In the new report, written as a strong defense of Bush's economic stewardship, the president says that the country has been able to overcome a series of shocks starting with the bursting of the stock market bubble in early 2000 followed by the first recession in a decade, the terrorist attacks, two wars and corporate accounting scandals.

"Americans have responded to each challenge and now we have the results: renewed confidence, strong growth, new jobs and a mounting prosperity that will reach every corner of America," Bush wrote in the message transmitting the report to Congress.

The release of Bush's economic report, prepared by the president's Council of Economic Advisers, came on a day when the president was appearing in Missouri to tout the country's economic rebound, one of three such trips he has scheduled this week.

 

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