Bush Admits Economy Faces Challenges

[rodeodance]

Source: nytimes

January 8, 2008
Bush Admits Economy Faces Challenges
By SHERYL GAY STOLBERG and DAVID M. HERSZENHORN

CHICAGO — President Bush, in a marked shift from his usual upbeat economic assessments, conceded here on Monday that the nation faces “economic challenges” due to rising oil prices, the home mortgage crisis and a weakening job market.

“We cannot take growth for granted,” Mr. Bush said in a speech to a group of business leaders in which he acknowledged that “recent economic indicators have become increasingly mixed.”

But even after a government report on Friday that showed unemployment jumped to 5 percent last month from 4.7 percent in November, Mr. Bush stopped short of warning that the nation may be about to enter a recession.

Democrats in Congress and on the campaign trail echoed the president’s sobering view. With a number of analysts now predicting that an economic downturn could be imminent, both Mr. Bush and Congressional Democratic leaders say they are considering whether a rescue package is necessary to counter the threat of a recession, in which economic activity declines and joblessness increases over an extended period of time.

Read more: http://www.nytimes.com/2008/01/08/business/08bush.html?_r=1&th=&oref=slogin&emc=th&pagewanted=print

[SpiralHawk]

1. "On the bright side, war profits are way up for republicon cronies." - Commander AWOL

"And as for you little people, the citizens of the USA, I have here a Genuine Republicon Kompassionate Konservative Propaganda Talking Point: 'Too bad. Pull yourselves up by your own sneaker laces.' Smirk."

- Commander AWOL

[EV_Ares]

2. Good, glad he put down his book "My Pet Goat" long enough to read

about how the economy is doing and woke up finally, it has been sinking for a while now.

[Nickster]

3. Let me guess.....More tax cuts for the wealthy?

[bdamomma]

4. of course, do you think this despicable guy cares at all about us?

Not at all.

[Xipe Totec]

5. George knows what it's like to be challenged (nt)

[gratuitous]

6. "Mixed"

Yeah, there's a deep, realistic analysis. The only "problem" Bush sees with the economy is that there are fewer and fewer middle class pockets to pick, and po' folk don't have very much money to plunder. Why, it's getting so that you have to hit 50,000 or more of them with hidden taxes like soaring gas costs to make a decent profit. Pretty soon, it's going to be 100,000, and will there be enough for all the plutarchs, or will someone have to show up at the yacht club in last year's model? Oh, the ribbing he'll take! Won't someone please think of the plight of the overrich?

[TalkingDog]

7. So did Sisyphus. n/t

My Favorite Master Artist: Karen Parker GhostWoman Studios

[Massachusetts]

8. What a Moron!

"threat of a recession"


http://news.bbc.co.uk/2/hi/business/7176255.stm

[focusfan]

9. and it's all his fault

he wants this to happen so his buddys will make a big profit
in oil.

[Javaman]

10. colossal disconnect...

"mummy, what do you mean I* can't have anymore pudding?"

[ConcernedCanuk]

11. "the president’s sobering view"

.
.
.

interesting choice of words - -

could they be indicating that the past seven years the USA has been run by a drunk?

That would explain alot!

[JBoy]

12. But the question is... is he "troubled" by it?

I really don't worry unless the Commander is "troubled" by something.

[truthisfreedom]

13. Even with his head buried in the sand, he can feel his ass being kicked.

This will be the great undoing of the 'thug party.