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President Bush: US Economy Shows 'Steady Progress' - 2004-07-03

President Bush says with 10 consecutive months of job growth, the U.S. economy is showing steady progress and Americans are experiencing a "restored sense of opportunity" as they gather to celebrate the Fourth of July.

During his weekly radio address, the president cited new statistics showing 112,000 new jobs in the month of June. However, that number was less than half economists had predicted and left the unemployment rate unchanged at 5.6 percent.

The president said in order to sustain the country's economic progress, his tax cuts should be made permanent. He also proposed plans to reduce health care costs.

Mr. Bush said he has proposed a national energy policy that reduces dependence on foreign energy sources through conservation and reliance on domestic energy production.