WH: "Recession is a technical term...we are clearly in a period of a slowdown"

[sabra]

http://blogs.usatoday.com/ondeadline/2008/03/bush-to-make-ec.html

The White House says President Bush will make a previously unscheduled statement on the economy at 2:10 p.m. ET.

So far today, we've learned the the economy lost 63,000 jobs last month and the Federal Reserve is making $100 billion available to American banks as part of its efforts to increase liquidity in the nation's credit markets. The Dow Jones Industrial Average was down about 95 points before noon.

"This quarter's going to be a difficult quarter for the U.S. economy. We are in a low growth period in the economy," White House spokesman Tony Fratto says, according to Reuters.

"Recession is a technical term," he adds. "Regardless of what you call it, we are clearly in a period of a slowdown in economic growth."

http://www.msnbc.msn.com/id/23389508/

Bush: U.S. is not headed for recession
Thurs., Feb. 28, 2008

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?"

[marmar]

1. Big Brother Newsspeak.....

Up is down; Blue is gray; War is peace; Shit is sugar.

:crazy:

[Warpy]

3. War is peace, ignorance is strength

GOPs are in control. It happens every damned time they take control for too long.

GOP = George Orwell's Prediction.

[ProfessorGAC]

2. How Convenient

"Well things suck economically, but technically we're not in recession." Well let me tell ya somethin' Silverspoon, if we're not in recession on a technicality, then the term is no longer applicable in an economy this large.

If for no other reason than the rapidity of money transfer, we may never be in a "technical" recession ever again.

Mayhaps we need a new definition.
The Professor

[dbonds]

4. And war is just intense negotiations

[Winterblues]

5. And just who was running the show that mismanaged us into a "Slowdown"?

Republicans made no bones about how Clinton's budget would completely destroy the US Economy. They stood on the floor of the House and made speech after speech about what really needed to be done. Republicans voted in "lock-step" against Clinton's budget and the vote tied in the Senate. Al Gore had to cast the tie breaking vote to pass the budget. America went on to experience the greatest economic expansion in history. As soon as Bush* took office and Republicans had Control of Congress they said they would show us how America was really going to prosper Republican style. America went on to experience the greatest economic turn around in history and it began well before 9-11. America has suffered ever since with basically zero economic growth to the point of being just about where America was before Clinton came to office...

[Baby Snooks]

6. He must have had lunch with Hutchison..

Bush must have had lunch with Kay Bailey Hutchison who decided to entertain everyone with her favorite cheer. "Give me a T, give me an E, give me a C, give me a H, give me an N, give me an I, give me a C, give me an A, give me an L, give me an I, give me a T, give me a Y" and with an elaborate wave of her pom-poms, finished the cheer with a resounding "It's all a t-e-c-h-n-i-c-a-l-i-t-y!"

Obviously Tony Fratto was impressed. Kay Bailey Hutchison may be getting old but she still knows how to wave those pom-poms and get the crowd rooting for the home team of corrupt Republicans.

And when she's not waving her pom-poms, you can find her sitting in the lap of the Emperor. Along with John Cornyn. The president's two favorite lapdogs. Every once in awhile they growl at Pelosi. But not too much. The Empress is silent. Which makes the Emperor happy.