Paulson says U.S. economy faces a tough quarter

[Eugene]

Source: Reuters

Paulson says U.S. economy faces a tough quarter
Thu Apr 3, 2008 5:54am EDT

By Glenn Somerville

BEIJING (Reuters) - The U.S. economy has taken a sharp
turn for the worse and is facing a tough quarter, U.S.
Treasury Secretary Henry Paulson said on Thursday.

Speaking to reporters during a visit to Beijing, Paulson
sidestepped a question on whether the economy was at risk
of toppling into recession, something that Federal Reserve
Chairman Ben Bernanke said on Wednesday was a possibility.

"There is no doubt we're having a tough quarter, that the
economy has turned down sharply," Paulson said.

But he said a swoon in the housing sector, which was largely
to blame for the rough patch, was necessary.

-snip-

Read more: http://www.reuters.com/article/topNews/idUSPEK1610620080403

[CanonRay]

1. No shit, Sherlock. What does this guy get paid?

[Warpy]

2. Like all the old, fat, balding white guys who got us into this

He's managed to grab all he could as the working families in this country were robbed year after year.

That's why they never notice a sour economy until it manages to get to Wall Street.

[Art_from_Ark]

3. Basically, that's it in a nutshell

"How were we to know that the economy would tank if we shipped your jobs overseas?"