The U.S. President George W. Bush delivered the state of the economy report in New York Wednesday, expatiating his policy to keep the economy flexible and dynamic.

Highlighting the strong and dynamic economy in America's financial capital, Bush said "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."

To maintain its economic leadership in the world, the U.S. president said the government is to make America's economy more flexible and dynamic in four areas - trade, health, energy and education.

Bush said the best way to expand opportunity for American workers and help impoverished nations is to encourage free and fair trade, and he has asked Congress to extend his trade promotion authority to negotiate trade deals.

He also iterated his initiatives to help make health care available and affordable for more Americans, including a standard deduction for health insurance and the Affordable Choices Initiative for States.

By increasing the transportation sector's energy diversity and reducing demand for oil, Bush's Twenty in Ten energy plan announced in his State of the Union Address can enhance America's energy security and help confront the challenge of climate change, added the President.

Bush proposed to strengthen and re-authorize the No Child Left Behind Act, and improve math and science education in middle schools and high schools.

The President, who reduced taxes for Americans on income taxes, and called on Congress to keep the U.S. economy growing by making the tax relief permanent.

Latest report showed the U.S. economy grew at 3.4 percent last year, which is up from 3.1 percent in 2005. However, the country has seen one in five manufacturing jobs disappear, a total of 2.96 million lost jobs. The U.S. trade deficit is expected to climb to a fifth consecutive record.

Source: Xinhua