On Mar 7, 6:27 pm, com...@[EMAIL PROTECTED]
wrote:
> ... new construction is up 36 %..and the number f new cmmercial
> buildings increased by 33 %.....out of about 20 people i surveyed,
> all are making more money than they were last year at this time.
Well you better call teh White House and inform Mr. Bush.
Evident;y, he didn't get the memo...
..
.. d
Bush: 'Economy has slowed'
By Ben Rooney, CNNMoney.com staff writer
March 7, 2008
President Bush said Friday that "it's clear our economy has slowed,"
hours after a government re****t showed a decline in payrolls for the
second straight month.
But he said the long-term outlook is good, with a stimulus package
enacted last month by Congress providing sup****t for the economy.
"I know this is a difficult time for our economy," the president said.
"But we recognized the problem early and we provided the economy with
a booster shot."
Bush said the effects of the stimulus package are "just starting to
kick in" and that the plan will "put money into the hands of American
workers and businesses."
Earlier in the day, Bush's chief economic adviser Edward Lazear said
that the nation's economy could contract in the current quarter. But
he added that, "we expect that the economy will get stronger,
primarily in the third quarter."
The statements come after the Labor Department said employers made
their deepest cut in staffing in almost five years during February,
highlighting concerns that a recession is imminent.
Senate Majority Leader Harry Reid, D-Nev., said in remarks made on the
Senate floor that Americans are "burdened by an economy that is
spiraling downward every day."
Reid noted that Bush does not think the economy is headed for a
recession, but argues that the facts prove otherwise.
"This morning, all signs point in that direction," Reid said. "But
regardless of what label we use, there is no doubt whatsoever that the
American people are suffering."
Meanwhile, oil prices spiked to a record high above $106 a barrel
Friday, raising concerns that higher gas prices will hurt consumers
and increase inflation.
On Wall Street, stocks fell to their lowest level in nearly 18 months
as recession fears continued to spook investors. To top of page
http://money.cnn.com/2008/03/07/news/economy/bush_econ/?postversion=2008030716
|
