Bush: "Economy Facing Tough Times"

[BeatleBoot]

And you thought this fucking idiot was clueless?

He is on the ball, man. He's all over it.



http://money.cnn.com/2008/03/14/news/economy/bushecon_0314/index.htm?postversion=2008031416


NEW YORK (CNNMoney.com) -- President Bush acknowledged Friday that the country was facing plenty of challenges both within the housing and financial markets, but stressed he was confident the economy would recover.

Speaking before The Economic Club of New York, Bush said he had witnessed these "tough" economic times in his administration before, adding that government action taken so far including the recent economic stimulus package would provide some much needed help.

"I believe we are a resilient economy," he said.

Bush's remarks come as the nation's financial struggles, brought about by the ongoing credit crisis, show few signs of abating.

Americans consumers now face a weaker dollar, soaring prices for food and gasoline and the latest indicators suggest that the housing market only has further to fall.

In February, foreclosure filings skyrocketed 60%. Homes sales are near record lows and home prices continued to plunge throughout 2007 according to the latest statistics.

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