Our opponents are trying to sell the same old ideas when the economy today is in the best shape that it's been in decades. Americans are recognizing that this administration has turned the economy around with very specific cuts in programs. To make our system fairer, to encourage the business climate, there are more than 4.6 million new jobs that have been created in the last 20 months. That's nearly twice as many than the entire previous four years. Unemployment is down almost two points.
Every measure looks better.
Economic growth is steady, not stagnant. Industrial production is strong. Business equipment investment is nine times higher than before. Millions and millions of homeowners have refinanced their mortgages and have extra money in their pockets to invest, to save, or to spend. We're always looking for ways to do a better job controlling spending.