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Bush&39;s speech after Austria and Hungary visit

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Goodmorning.ThispastweekItraveledtoAustriaandHungary,whereIhadproductivemeetingswithourEuropeanallies.Wediscussedthechallengesandopportunitiesweshare,includingtheimportanceofspreadingprosperityathomeandaroundtheworld.It''''sgoodtobebackhome,andI''''mpleasedtoreportthatoureconomyisstrong,growing,anddeliveringprosperitytomoreofourpeople.

Letmegiveyouafewfacts.Inthefirstquarterof2006,oureconomygrewatanimpressiveannualrateof5.3percent.SinceAugustof2003,Americahascreatedmorethan5.3millionnewjobs,morethanall25nationsoftheEuropeanUnioncombined.Productivityisgrowing,andwagesarebeginningtorise.Andbecausetaxesarelow,workersarekeepingmoreofthemon世界秘书网版权所有eytheyearn.

Oureconomyisheadingintothesummeronthefasttrack,andoneofthebestwaystokeepourmomentumgoingistorestrainspendinginWashington,D.C.Earlierthismonth,CongresstookanimportantstepbypassinganemergencyspendingbillthatstayedwithinthestrictspendinglimitsIset.Thebillincludednecessaryfundingforhighpriorities,suchasequippingourmilitaryandrebuildingtheGulfCoast,anditshoweddisciplineinotherareas.Congressdeservescreditformeetingmyspendinglimits,andIwaspleasedtosigntheemergencyspendingbillintolaw.

AsMembersofCongressshowrestraintonspendingbills,theyalsoneedtomakereformsinthespendingprocess.Underthecurrentsystem,manylawmakersareabletoinsertfundingforpetprojectsintolargespendingbills.Thisprocessiscalledearmarking,anditoftenresultsinunnecessaryspending.Forexample,abilltofundourmilitarycanbeloadedupwithunjustifiedearmarksandotherspendingthatmaynotaddtoournationalsecurity.

ThisleavesMembersofCongresswithtwobadoptions--theycaneithervoteagainstthewholebill,includingalltheworthwhilespending,ortheyhavetoacceptthewholebill,includingthewastefulspending.ThePresidentisleftwiththesamedilemma--eitherhehastovetotheentirebillorsignthebillandapprovetheunnecessaryspending.

There''''sasmarterwaytohandletaxpayerdollars,anditbeginswithgrantingthePresidentatoolcalledtheline-itemveto.Aline-itemvetowouldallowthePresidenttoremovewastefulspendingfromabillwhilepreservingtherestofthelegislation.Forty-threeofourNation''''s50governorshaveline-itemvetoauthority,andtheyhaveusedthatauthoritytoremoveneedlessspendingfromotherwisegoodbills.

Tenyearsago,MembersofCongressfrombothpartiesvotedtograntPresidentClintontheline-itemveto.However,theSupremeCourtruledthatversionoftheline-itemvetounconstitutionalbecauseittooktoomuchspendingauthorityawayfromtheCongress.Iproposedanewversionoftheline-itemvetothatfixestheproblemandgivesthePresidentaclearandconstitutionalwaytocutwastefulspending.Undermyproposal,thePresidentwouldidentifyalistofunnecessaryitemsthatshouldberemovedfromalargerspendingbill.Congresswouldthenberequiredtoholdapromptup-or-downvoteonthelist.

Aline-itemvetowouldgivethePresidentawaytoinsistongreaterdisciplineinthebudget.Aline-itemvetowouldreducetheincentiveforCongresstospendwastefullybecausewhenlawmakersknowtheirpetprojectswillbehelduptopublicscrutiny,theywillbelesslikelytosuggesttheminthefirstplace.Mostimportantly,aline-itemvetowouldbenefitAmericantaxpayersbyensuringgreaterrespectfortheirhard-earneddollars.

ThispastThursday,theHouseof世界秘书网版权所有Representativespassedabillgrantingline-item-vetoauthority.Thiswasavictoryforthetaxpayersandforspendingrestraint.IcallontheSenatetoshowabipartisancommitmenttofiscaldisciplinebypassingtheline-itemvetosowecanworktogethertocutwastefulspending,reducethedeficit,andsavemoneyforAmericantaxpayers.

Thankyouforlistening.

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