U.S. President George W. Bush has expressed his confidence in the country's economy in 2007 by stating that the American economy is strong.
In his State of the Economy speech delivered on January 31 in the city of New York, he also vowed to work for a "more flexible and dynamic" American economy and to make sure the Doha Round negotiations on world trade a success.
As we begin this New Year, America's businesses and entrepreneurs are creating new jobs every day. Workers are making more money—their paychecks are going further. Consumers are confident, investors are optimistic," Bush said.
The speech came as the federal government reported that America's economy grew at an annual rate of 3.5 percent in the fourth quarter of 2006, which means a 3.4 percent growth for the whole year, up from 3.1 percent in 2005.
In his speech, Bush outlined his plans to make the country's economy "more flexible and dynamic" by taking concrete actions in four areas—trade, health, energy and education.
According to the president, removing trade obstacles is one of his "top priorities." "At this moment, the most promising opportunity to expand free and fair trade is to conclude the Doha Round at the World Trade Organization," he said, "We're going to work hard to complete it. We are dedicated to making sure we have a successful Doha Round."
The president admitted that health care is a problem for many Americans who find it "rigid and confusing". He believed private health insurance is the best way for American citizens to meet their medical needs. He also vowed to "make it more affordable and to give patients more choices and more control over their health care decisions."
Diversifying the energy supply is another action that Bush planned to take. "We're too dependent on oil. That creates vulnerabilities," he said.
In the State of the Union speech he made a week ago, Bush set the ambitious goal of reducing gasoline usage in the United States by 20 percent over the next 10 years.
He called for "significant changes in supply and demand (of energy)" by reducing the amount of gasoline that automobiles consume and imposing a new mandatory fuel standard.
Bush also emphasized the importance of public education in America's economy. He urged the U.S. Congress to renew his "No Child Left Behind" education law.
(Our staff reporter Chen Wen, reported from New York)
