Elizabeth (New Jersey), June 17: US President George W Bush defended his handling of the US economy and the war against terror yesterday, which he expects to be key issues in the 2004 election, as he prepared to open a two-week swing to raise millions for his re-election campaign. In a speech to New Jersey business executives, Bush promoted his program of tax breaks, especially those meant to spur small businesses to invest in new equipment, arguing that investment incentives for main street employers can pull the national economy out of the doldrums.
"When the economy is grinding down, when it's not as strong as it should be, when demand is lax, the best way to deal with an economic slowdown is to let people have more of their own money - to let people spend their own money, increase demand for goods and services, which is exactly what we did," Bush said.
The White House said it was not a political speech, but bush touched on a large number of domestic and foreign issues that undoubtedly will be heard throughout next year's campaign. He even noted his campaign platform of 2000, saying that America's great strength is not its military muscle but the "great compassion of the people who live here”.
The President spoke of the huge tax cuts his administration helped usher into law, urged Congress to pass a national energy policy and said more must be done to curb corporate corruption.
Bureau Report