Although housing sales and starts have cooled to more typical levels, the housing market remains strong and sound. Without the expansion of homeownership and the strength of our housing market, our nation would not have the economic growth we are experiencing today.

While only one day of the year is dedicated solely to honoring our veterans, Americans must never forget the sacrifices that many of our fellow countrymen have made to defend our country and protect our freedoms.

Housing has led our nation's economic expansion over the past few years, accounting for 16 percent of our Gross Domestic Product. New housing starts and home sales hit record levels from 2003 through 2005.

In addition to a soaring stock market, 6.6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years.

More Americans own their home than ever before. Nearly 70 percent of American's are homeowners. So it is a good time for us to asses the positive impacts of homeownership on families, communities and on the nation's economy.

President Bush's emergency declaration for the State of Texas is great news for the people and communities that have experienced the devastating wildfires firsthand. Already, communities have rallied to help neighbors in need.

We can fight the War on Terrorism in other places around the world or we can fight it here in America. The right choice is to fight those terrorists where they are.