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Bush credits tax cuts for growing economy

President Bush talked about the strength of the U.S. economy in his weekly radio address Saturday and credited his hotly debated tax cuts for the growth.
/ Source: Reuters

As Americans question his Iraq policy, President Bush crowed about the strength of the U.S. economy Saturday and credited his hotly debated tax cuts for the growth.

Bush was upbeat in his weekly radio address a day after the Labor Department reported the U.S. economy added 207,000 jobs last month, a stronger-than-expected gain.

“Recent economic reports show that our economy is growing faster than any other major industrialized nation,” he said from his ranch in central Texas.

The bright economic news was in contrast to the Iraq war, where at least 27 U.S. troops were killed in the past week. A CBS News poll Wednesday said 55 percent of Americans did not approve of the way Bush was handling the Iraq war, compared with 41 percent who approved.

A group called Gold Star Families for Peace, relatives of soldiers who have died in Iraq and other wars, plans to protest in tiny Crawford Saturday, demanding Bush withdraw U.S. troops.

In his radio address, Bush renewed his call for making permanent the tax cuts he pushed through Congress in his first term. Democrats believe the tax cuts have done little more than drain the U.S. budget and even some Republicans doubt the wisdom of extending them.

“The tax relief stimulated economic vitality and growth and it has helped increase revenues to the Treasury,” Bush said, adding later, “We need to make the tax relief permanent.”

Busy week ahead
Bush spoke at the end of the first week of his 33-day working vacation. He has a busy week ahead of him.

On Monday, he goes to New Mexico to sign a $14.5 billion energy bill and Wednesday he visits Illinois to put his signature to a $286 billion highway bill.

At the ranch Tuesday, he will meet his economic team and Thursday will play host to Defense Secretary Donald Rumsfeld.