Bush's message: Democrats will cost you money

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ENGLEWOOD, Colorado (CNN) -- President Bush devoted his last national radio address before critical elections to the economy, telling voters that a Democrat Congress would hit their pocketbooks.

"Democrats are still determined to raise taxes," Bush said from a coffee shop in Englewood, Colorado, in an unusual televised version of his weekly speech.

He predicted Democrats would block renewal of expiring tax legislation if they regained control of Congress. (Watch Bush make his case that GOP means money for taxpayers -- 5:10)

Republicans -- who captured control of Congress in 1994 -- have a slim hold on both chambers. Democrats need a 15-seat pickup in Tuesday's elections to regain the House and a gain of six seats to reclaim the Senate.

"Americans are finding jobs and they're taking home more pay. The main reason for our growing economy is that we cut taxes," Bush said.

"I say it's a good economy right now."

On Friday, the Labor Department announced that the U.S. unemployment rate sank to a five-year low of 4.4 percent in October, according to The Associated Press.

Economist Richard Yamarone told AP the new figures are evidence of "a hiring party going on," but "unfortunately, manufacturing and construction workers didn't get an invitation."

Last week, Democrats seized on a Commerce Department report showing slower than expected growth of the nation's economy.

"Once again, the Bush economy is going in the wrong direction," said a statement from Rep. Carolyn Maloney, D-New York, the senior House Democrat on the Joint Economic Committee. "An economic recovery that never benefited working Americans in the first place now has slowed to a crawl."

Iraq and terrorism are the issues most important to voters in a recent Opinion Research Corp. poll for CNN, but the economy remains "extremely important" to 33 percent of voters and "very important" to 44 percent of respondents.

Sixty-two percent of those polled said the nation's economy is good, compared with 44 percent who said so in an August poll.

Bush also spoke at a campaign event Saturday in Greeley, Colorado, for Rep. Marilyn Musgrave. About 2,000 people showed up for the rally, many waving small red and blue pom-poms. (Watch how Bush is picking his election battles -- 1:36 )

The two-term Republican is facing a tightening race in the state's 4th Congressional District against Democratic challenger Angie Paccione. (Colorado's 4th District)

Signs reading "Greeley loves W" dotted the crowd -- but not everyone was sure how he or she would vote.

"I'm a Democrat and just wanted to come hear what the president had to say," said Jennifer Negron, of Fort Collins. "The reason the Democrats want to raise taxes is because it would help alleviate the rich-poor gap, which I believe will only get larger if Republicans stay in office."

Others agreed with the president's message. "I think the Republicans are doing a good job and the economy is only going to get better," said Roy Scott of Laramie, Wyoming. "We have kids and tax cuts help us right there. I would hate to lose that extra money. I look forward to tax time, and that hasn't always been the case."

Bush and Vice President Dick Cheney were stumping during the weekend in states they won in 2004, with Cheney campaigning in his home state of Wyoming. With an overall approval rating of 37 percent in the CNN poll, Bush appears to be avoiding swing states where his presence might hurt fellow Republicans.

Democrats claim Tuesday's midterms will be a national referendum on Bush, his stewardship of the country and his execution of the Iraq war, which has grown increasingly unpopular as Election Day nears. (Watch how many races will hinge on Iraq -- 2:40 )

On Saturday, an editorial published in four independent military newspapers called on Bush to replace Defense Secretary Donald Rumsfeld. (Full story)

From Colorado, Bush plans to travel to his ranch in Crawford, Texas, to celebrate first lady Laura Bush's 60th birthday.

CNN's Liz Flynn, Erika Dimmler and Elaine Quijano contributed to this report.

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