Here's the full text of the speech.

Others say that the government needs to take a larger role in directing the economy, centralizing more power in Washington and increasing taxes. We hear claims that immigrants are somehow bad for the economy – even though this economy could not function without them. All these are forms of economic retreat, and they lead in the same direction – toward a stagnant and second-rate economy.

I haven't heard anyone argue that "immigrants" in general are bad for the economy. However, a large number of low-wage illegal immigrants are definitely bad for the U.S., especially for those on the lower end of the wage scale. As far as "second-rate" economies are concerned, we should be a bit more like Japan (innovation, robotics, etc.) rather than like those second- and third-rate economies that are still reliant on stoop serf labor.

Keeping America competitive requires an immigration system that upholds our laws, reflects our values, and serves the interests of our economy. Our Nation needs orderly and secure borders. To meet this goal, we must have stronger immigration enforcement and border protection. And we must have a rational, humane guest worker program that rejects amnesty ... allows temporary jobs for people who seek them legally ... and reduces smuggling and crime at the border.

We need a president that "that upholds our laws" rather than one that tries to subvert them. Under Bush enforcement has fallen even lower than what it was under Clinton. He could do much more enforcement if he wanted. He doesn't want to because he's corrupt.

And, a "guest worker program" is amnesty. And, those "guests" will never go home. Very few people are aware of just how anti-American Bush's guest worker plan was intended to be.

Back to Our Leader:

Our economy is healthy, and vigorous, and growing faster than other major industrialized nations. In the last two-and-a-half years, America has created 4.6 million new jobs – more than Japan and the European Union combined. Even in the face of higher energy prices and natural disasters, the American people have turned in an economic performance that is the envy of the world.

However, see this and from this:

an analysis of the latest Census Bureau data shows that between March of 2000 and March of 2004, the number of adults working actually increased, but all of the net change went to immigrant workers. The number of adult immigrants (18 years of age and older) holding a job increased by over two million between 2000 and 2004, while the number of adult natives holding a job is nearly half a million fewer.

And, American teens are being boxed out of low-wage jobs by illegal aliens.