U.S. Chamber of Commerce - Making Progress: From Recession to Recovery

Taking Action to Strengthen America's Economy

Since the beginning of his administration, the President has acted decisively to promote economic growth and job creation.

In 2001, he fulfilled his promise to reduce the tax burden on the American people. This tax relief gave the economy a boost at just the right time -- ensuring that the recession was one of the shortest and shallowest in modern American history. These tax cuts worked, and the President will continue to press the Congress to make the cuts -- including the end of the death tax -- permanent.
In 2002, he proposed and signed into law an economic stimulus bill, tough new corporate accountability standards, terrorism insurance legislation to put construction projects back on track, and an historic trade act. All these measures will help our economy as it recovers from the shocks of recession, the attacks of September 11, and serious abuses of trust by some corporate officials.

Today, America's economy is recovering and showing signs of growth.

The country is now in its second year of economic growth.
Nationwide, incomes are rising faster than inflation.
Interest rates are the lowest in 37 years, and low interest rates have allowed Americans to refinance their homes, adding more than $100 billion to their pocketbooks and to the economy.
The homeownership rate -- a central part of the American dream -- is 68%, close to the highest ever.
Productivity of American workers -- the most important indicator of our economic strength -- went up 5.6% over the last four measured quarters, the best since 1973.
Our trade with other nations is expanding -- bringing the lower prices that come from imports, and the better jobs that come from exports.

Information courtesy of the White House.