- "the country is not recession-bound" --> "the country is already in a recession"
- "concern about slowing economic growth" --> "concern that the election won't go the way I want and the next president might not carry on my policies"
- "rejected for now any additional stimulus efforts" --> "planning to hand out more cash right before the election"
- "We acted robustly" --> "we didn't know what else to do"
- "We'll see the effects of this pro-growth package" --> "everyone likes more money, so this has to help"
- "Why don't we let stimulus package 1, which seemed like a good idea at the time, have a chance to kick in?" --> "We have to number the cash hand-out programs now, because there will eventually be so many that you won't know which one we're talking about otherwise"
[[MORE]]
- "I don't think we're headed to recession." --> "We've changed the definition of a recession so that they only happen when the Democrats are in office"
- "But no question, we're in a slowdown." --> "you ain't seen nothin' yet!"
- "So we're still for a strong dollar." --> "a strong dollar means that there are a whole lot of them, right? I read that on the Internet somewhere, so it has to be true, right?"
- "We'll make it through this period just like we made it through other periods of uncertainty during my presidency" --> "yet another unmitigated disaster"
WASHINGTON - President Bush said Thursday the country is not recession-bound and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts. "We acted robustly," he said.
"We'll see the effects of this pro-growth package," Bush told reporters at a White House news conference, acknowledging that some lawmakers already are talking about a second stimulus package. "Why don't we let stimulus package 1, which seemed like a good idea at the time, have a chance to kick in?"
Bush's view of the economy was decidedly rosier than that of many economists, who say the country is nearing recession territory or may already be there. "I'm concerned about the economy," he said. "I don't think we're headed to recession. But no question, we're in a slowdown."
The centerpiece of government efforts to brace the wobbly economy is a package Congress passed and Bush signed last month. It will rush rebates ranging from $300 to $1,200 to millions of people and give tax incentives to businesses.
On one issue particularly worrisome to American consumers, there are indications that paying $4 for a gallon of gasoline is not out of the question once the summer driving season arrives. Asked about that, Bush said "That's interesting. I hadn't heard that. ... I know it's high now."
Bush: 'We’re in a slowdown'
Feb. 28: President Bush says, "I don’t think we’re headed to recession. But no question, we’re in a slowdown,” at a news conference at the White House.
Bush also telegraphed optimism about the U.S. dollar, which has been declining in value.
"I believe that our economy has got the fundamentals in place for us to ... grow and continue growing, more robustly hopefully than we're growing now," he said. "So we're still for a strong dollar."
Bush also used his news conference to press Congress to give telecommunications companies legal immunity for helping the government eavesdrop after the Sept. 11 terrorist attacks.
Bush criticized the Democratic presidential candidates over their attempts to disassociate themselves from the North American Free Trade Agreement, a free-trade pact between the U.S., Canada and Mexico. Bush said the deal is contributing to more and better-paying jobs for Americans.
Following his news conference, Bush traveled to the Labor Department to meet with his economic advisers.
Afterward, he expressed confidence in the nation's ability to weather the economic downturn.
"We'll make it through this period just like we made it through other periods of uncertainty during my presidency," Bush said.
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