Transcript: Democratic Response to President's Address
Saturday, May 10, 2003
The following is a transcript of New Jersey Governor Jim McGreevey's Democratic response to the president's weekly radio address:
Our nation is faced with an economy that has been stagnant for too long. Today we must stand united in our purpose to create jobs and restore the kind of economic growth we enjoyed just a few short years ago.
It was just two years ago that we were enjoying the benefits of the longest continuous period of economic growth in our nation's history. We balanced the federal budget for the first time in decades, spent only the money we had, and made real investments in education and health care. For the first time in decades, the federal government actually had a surplus.
But times have dramatically changed. While our president has shown tremendous leadership in the war on terrorism and the conflict in Iraq, unfortunately the economic policies of this administration have created the largest national deficit in history and left the states facing their worst economic crisis since World War II.
Every dollar we're in the red is a dollar that we can't invest in our economy, schools that won't be built, bridges that won't be repaired and jobs that won't be created. Today, 46 states face crippling budget deficits totaling $70 billion.
Any plan to stimulate the country's sagging economy can't succeed unless the states are part of the economic recovery. State budget deficits will force tax increases and service cuts that will only hurt the economy. And yet, the stimulus package offered by the president fails to provide a single dollar in aid to the states.
Fortunately, the stimulus bill just passed by the Senate Finance Committee recognizes the states as economic partners. Senators of both parties are taking this responsible step because they understand that economic recovery requires the states and the federal government to work in partnership together.
Local and state governments aren't looking for handouts, but to form meaningful partnerships with the federal government to improve education, provide health care, protect our families, and provide job opportunities.
We need to understand the administration's economic proposals will result in even larger deficits, a bigger mountain of debt and more borrowing to pay our bills. It's the opposite of recovery.
In contrast, the Democratic alternative will provide real tax relief for working families, incentives for job creation, and substantial economic stimulus for the states.
As a nation, we need to return to the days of balanced budgets, responsible spending, and investments — investments in education, roads, and small businesses — that will create jobs, economic prosperity and, ultimately, a more secure nation.
We need to remember that as Congress and the president spend billions to rebuild Iraq, our first responsibility is to invest in America and to build a stronger, better nation for our families and our children.
Thank you.
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