Second Quarter GDP Report Shows 3.4 Percent
Growth!
Economic Advisors brief President George W. Bush
July 30,
2007
WASHINGTON DC NEWS -- Briefing President George
W. Bush at the White House Friday in the Roosevelt room, Secretary of
Commerce Carlos M. Gutierrez along with Secretary of Treasury
Hank Paulson and Office of Management and Budget Director Rob Portman all met
to discuss our nation's strong economy and our growing export
culture. The Commerce Department proceeded to release the
second quarter of 2007 Gross Domestic Product (GDP) report which showed that
our economy grew at a robust 3.4 percent!
Commerce Secretary Carlos M. Gutierrez said of
the GDP report:
"This 3.4 percent surge in growth is great
news.
"A very important factor with today's GDP
growth is the President's policy on trade -- opening up markets, focusing on
exports, helping exporters access markets.
"This is a very resilient economy; it's a
very diversified economy; and it's a very flexible economy. That's the way
we've been able to get through situations like 9/11, a recession, corporate
scandals and natural disasters. This economy has been able to withstand many
challenges.
"The fact that we are the largest exporter in the world, and
we're growing our exports at a very fast pace, says a lot about our
economy, our businesses, and our system. Exports were a very
important contributor to this quarter's growth, and we need to stay on the path
of promoting U.S. exports." 
Responding to the Commerce Secretary's news of
the country's GDP, President Bush said of the great economic
news:
"I want to thank my economic advisors for joining me here in
the Cabinet [sic] today. We've had a wide range of discussions about a lot of
aspects of our economy. I appreciate the Secretary of
Commerce and Secretary of Treasury and others for giving me
their opinions about the events of day.
"And what they're saying -- one of the important pieces of
data that I've been briefed on is the fact that our economy grew at 3.4 percent
in the second quarter this year. Inherent in that growth is a free enterprise
system that provides incentives for people to take risk and to grow their
businesses and it's an economy that is large, flexible and
resilient.
"One of the interesting aspects of this economic growth is
that we have benefitted from increased exports. In other words, U.S. farmers
and small business owners and manufacturers have found markets overseas for our
products, products grown right here or built right here in the United States.
And by selling those products overseas it's contributed to the strong second
quarter growth.
"And when we are able to sell products overseas, or goods and
services overseas, it means that Americans are more likely to find a job here
in America. Job growth has been strong, and that's what you'd expect when our
economy is strong and resilient and flexible. People working,
unemployment rate is down, wages are increasing.
"And so I want the American people to take a good look at this
economy of ours. The world is strong -- the world economy is
strong. I happen to believe one of the main reasons why is because we remain
strong. And my pledge to the American people is we will keep your taxes low to
make sure the economy continues to remain strong, and we'll be
wise about how we spend your money in Washington, D.C. I submitted a budget
that will be in balance at 2012, and I look forward to working with Congress to
achieve that goal.
"Anyway, thank you all for coming. I appreciate you being
here."
In conclusion, we would like to respectfully thank the President
and his economic advisors for this great news of the
economy and GDP as well as his vote of
confidence in the American people.
Published by:
Rob Cross
mailto:editor@357news.com
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