Volume 6, Issue 42, October 16, 2006

Straight Talk With Sam

Economic Update

There’s an old saying that goes, “may you live in interesting times.” Some have speculated it’s a proverb – others have said it is meant as a curse. But there is no question that we, as Americans, are in the midst of some very interesting times.

Our new century is not even six years old, and already our nation has confronted a recession, scandals, a series of natural disasters, and the worst terrorist attacks in our country’s history. Yet in spite of these challenges, our nation continues to demonstrate its ability to bounce back and to thrive.

To address these challenges, Congress is advancing the agenda to make America more secure and prosperous, and to help American families. Republican policies to keep taxes low and encourage greater investment in our businesses have helped lead to a robust job creation. September marked the 37th straight month of job gains – that’s more than three straight years of job gains. Unemployment is down, gross domestic product is up, homeownership is at an all-time high, and wages continue to rise.

We have already reduced marginal income tax rates, eliminated the death tax, provided marriage penalty relief, alternative minimum tax relief, an increase to child tax credit, and lower rates on capital gains and dividends.

The tax cuts in place and our current economic policies have created soaring revenue growth and driven down the deficit. And you can rest assured; I will continue work with my colleagues in Congress everyday to make our country more secure and prosperous.