Today the White House released an updated economic forecast. The economy is "solid," as Council of Economic Advisors Chairman Edward Lazear puts it. Here's the key paragraph from the press release:

The updated forecast projects somewhat slower economic growth in the near-term than was projected in June 2006. Specifically, the forecast projects real gross domestic product (GDP) will grow 3.1 percent and 2.9 percent during the four quarters of 2006 and 2007, respectively. These growth rates are similar to the U.S. historical average.

Other good news includes a forecasted unemployment rate of 4.6 percent for 2006 and 2007.

We should be careful not to take this good economic news for granted. Today's numbers only strengthen the case for pro-growth policies. If Americans want to sustain this level of growth, their representatives in Washington need to implement the kinds of policies that will leave it intact.

So what can lawmakers do to continue, and perhaps increase, growth? Maintaining pro-growth tax policies would be a good place to start. Lawmakers would also be wise to avoid policies and regulations that would adversely affect businesses and workers--such as raising the minimum wage. Of course, there's the need to rein in spending. And, if lawmakers are feeling ambitious, they could always take on the most serious threat to our fiscal house: long-term entitlement spending.