DATE=NOVEMBER 8, 2003

TYPE=CORRESPONDENT REPORT

TITLE=BUSH ECONOMY (S)

NUMBER=2-309593

BYLINE=SCOTT STEARNS

DATELINE=WHITE HOUSE

CONTENT=

VOICED AT:

INTRO: President Bush says his record tax cuts are helping stimulate the U-S economy with rising output and lower unemployment. From the White House, VOA's Scott Stearns reports, Democrats say the tax cuts are creating huge federal deficits.

TEXT: President Bush is celebrating better-than-expected economic news with more than 120-thousand new jobs last month and a rise in third-quarter output of more than seven percent.

That is the fastest growth in nearly 20 years and has gone some way to soothing Republican concerns that a weak economy could be a political liability for the president in next year's re-election campaign.

In his weekly radio address, Mr. Bush said America's economy is getting stronger every day.

/// BUSH ACT ///

American companies are investing. Americans are buying homes at a record pace, and homeownership is near record levels. Stock market values have risen, adding about two trillion dollars in wealth for investors since the beginning of the year.

/// END ACT ///

The president says all Americans can be encouraged but should not be satisfied by early signs of progress because the improving economy is also a changing economy that has left some workers behind.

Democrats say the president's tax cuts unfairly favor wealthier Americans and have forced state and local governments to cut social services.(SIGNED)

NEB/PT