Election 2004: The Nation's Ecomomy

Q: PRIMEDIA Business: The nation's economy has been adding to its employment totals over the course of the past year, although that growth does not appear to be as robust as it should be in the midst of the current recovery. In your view, what must we do as a nation to improve on the short-term and long-term job creation in our nation?

A: President Bush: Creating an environment that is ripe for investment, expansion and sustainable job growth is one of my greatest domestic priorities. In the past three-and-a-half years, our nation has overcome many obstacles that have affected our economy, including inherited recession, corporate scandals and the terrorist attacks of September 11th. Our resolve has not faltered, and we have turned our recovery into robust economic growth. In the past 12 months, our economy has created 1.7 million new jobs, including 107,000 new manufacturing jobs since January. The unemployment rate dropped to 5.4% in August and is lower than the average rates during the 1970s, 1980s and 1990s. Employment has increased in 47 states over the past year, and unemployment claims have declined. This is good progress, but there is still more we can do to ensure more Americans are working. I will not be satisfied until every American looking for work can find a well-paying job. Now, we must build on this progress and further extend prosperity to every community in America. My six-point plan to strengthen the economy focuses on: reforming the legal system to prevent frivolous lawsuits that increase the cost of doing business; promoting domestic energy development and energy security; streamlining government regulations, especially for small businesses; pursuing free and fair trade agreements that open new markets for American goods and level the playing field for America's workers and businesses; making tax relief for families and small businesses permanent; and expanding access to affordable health care. In addition, I have called for fundamental tax reform that will give Americans a tax system that is simpler and encourages economic growth. Taken together, these policies will lower the costs of doing business, create new jobs and lead to rising salaries for workers.

A: Senator Kerry: We have a three-part plan to invest in the jobs of the future: make America more competitive and innovative, increase jobs at better wages and combat outsourcing. We will jump-start job growth. Our new Jobs Tax Credit will encourage hiring by manufacturers, other businesses affected by outsourcing and small businesses in 2005 and 2006. Enforce our trade agreements and trade laws to ensure that our partners are playing by the rules and that China and other countries do not manipulate their currencies. We will make America more competitive. We will end tax breaks for companies creating jobs overseas and cut taxes for 99% of taxpaying corporations. We will cut the deficit in half in four years to free up more capital for private investment without increasing record borrowing from abroad. We will enact health care reform to cut premiums up to $1000 and move toward energy independence. We will invest in the jobs of the future. We will move toward universal broadband access to ensure America's technological infrastructure is the best in the world. We will unleash innovative small and medium-sized businesses by establishing Manufacturing Business Investment Corporations and doubling the Manufacturing Extension Partnership. And we will secure universal access to college and expanded job training to prepare workers for high wage jobs of the future.