Bush, on fundraising tour, touts economy's potential

[marmar]

Potential? :rofl: :rofl: :rofl: ....What planet does this MoFo live on?



from AP, via Yahoo!:


AP
Bush, on fundraising tour, touts economy's potential
Tuesday May 27, 7:47 pm ET
By Ben Feller, Associated Press Writer
Bush, on fundraising tour for McCain, says stimulus package just beginning to kick in


MESA, Ariz. (AP) -- President Bush, sounding upbeat as consumer confidence swooned, said Tuesday that the government's effort to stimulate the economy is just starting to kick in.
"It's going to make a positive contribution to economic growth," Bush declared, referring to a package of rebate checks for families and tax breaks for business. The most tangible part of the deal -- checks in people's mailboxes -- began arriving this month.

Bush's reassurance came as a new report put consumer confidence at its lowest level in almost 16 years. Soaring gas prices and gloomy job prospects were largely to blame.

Meanwhile, a separate index released Tuesday showed U.S. home prices dropped at the sharpest rate in two decades during the first quarter of 2008. The slump in housing and a related credit crunch, which has resulted in multibillion-dollar losses at large financial institutions, have depressed the economy and raised worries about a possible recession.

The president chose a backdrop of the Silverado Cable Co., a 70-employee business that makes electrical wiring for airplanes and other industrial uses. He trumpeted the new tax breaks that have encourage companies like Silverado to invest in new equipment.

And Bush brought up a familiar call, prodding Congress to extend his first-term tax cuts, which are due to expire in 2010. The Democratic-led Congress has shown little interest.

"We have times of economic uncertainty right now," Bush said after taking a quick tour of the company's plant. "And what creates more uncertainty for owners of businesses like these is whether or not their taxes are going to go up. And Congress ought to just declare once and for all we're going to make the tax cuts we passed permanent." .....(more)

The complete piece is at: http://biz.yahoo.com/ap/080527/bush.html

[JeffR]

1. Yeah, gee, with some sound management and sane policies

the economy could be generating huge surpluses for years to come!

Aw, who am I kidding? That could never happen.