Remarks to Families at a Target Store and an Exchange With Reporters in Kansas City, Missouri

Weekly Compilation of Presidential Documents, August 27, 2001

You're right, the last administration was anxious for the Government to spend more money. I want the Government to spend the right amount of money. And we have achieved a good balance. It's not only money to fund priorities such as education, defense, and health care, but it is money available for the taxpayers. It's their money to begin with.

And our economy needs--I love the discussion, you know, the tax cut means there's less money available to spend. Well, what the tax cut is, it means that we've been given an opportunity to revitalize our economy, so that the tax revenues that have been lost because of economic slowdown come back into the Treasury.

Effect of Tax Relief

Q. Mr. President, do you think that the purchasing of school supplies and things people would buy ordinarily will, in fact, jumpstart the economy?

The President. No, I think it's a cumulative. If you try to look at one isolated incident, it's easy to belittle $600 in a person's pocket. But $600 of additional disposable income all across America--that amounts to billions of dollars--will provide a part of the equation for economic recovery. Of course, if somebody buys a pencil, somebody's had to make it. But it is not just school supplies. That maybe kind of diminishes the effect of billions of dollars getting into the economy in a very quick period of time.

I want to remind you all about a year ago, the discussion about tax relief was sometimes in political circles belittled as an impossibility. No one would have dreamed that we would not only have gotten tax relief but this amount of money injected into the economy as quickly as we did. And it's a part of the equation.

Dinner With Gov. Bill Graves of Kansas

Q. You broke bread with Governor Graves last night.

The President. I did.

Q. Why Governor Graves, and what did you talk about?

The President. Well, I was hoping I could maybe get him to buy my meal.

Q. He didn't?

The President. He didn't, no. Please record the fact that I paid, much to my chagrin.

We talked about just politics. He and Linda are friends of mine. He's done a great job as the Governor of Kansas, and he's one of my best friends that I've made in politics amongst the Governors. Just had a nice visit.

Q. Have a future with you some day?

The President. You know, we didn't spend much time talking about that. He has not finished his term yet. Maybe, you know.

President's Tax Rebate

Q. Mr. President, what are you going to do with your tax rebate?

The President. Charity.

Q. Really? Which one?

The President. I don't know yet.

Q. You haven't gotten it?

The President. Not to my knowledge.

Q. Why charity?

The President. Why? Because it's something people ought to do. And I believe in supporting charities. As you know, every year when I put out my income tax returns, you see the fact that I do give to charities, give to my church. I haven't made up my mind yet.

Thank you all for your time.

President's Schedule

Q. Are you going to talk to us--you going to talk to us tomorrow? Play golf and maybe talk to us?