Bush Touts Tax Rebates As Cure For Economy
President Says Sagging U.S. Economy Will "Come Out Stronger Than Ever" Once Checks Arrive
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President Bush, accompanied by Jim Mayes, president of ColorCraft, center, tours ColorCraft, Inc. in Sterling, Va., Wednesday, March 26, 2008. The president said his administration had taken "decisive action" by getting money for taxpayers and businesses, which are to receive tax incentives to invest. (AP Photo/Gerald Herbert)
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"I fully recognize that people are concerned about our economy, but they must understand that this package has yet to fully kick in yet," the president said.
He commented after a visit to a printing company, ColorCraft of Virginia, Inc.
The troubled economy is the No. 1 concern of voters in this presidential election year, surpassing the war in Iraq.
The administration says that although the economy has slowed, it will be revived when millions of Americans begin receiving tax rebate checks in the second week of May.
"A lot of folks are going to be getting a sizable check," the president said. "I'm looking forward to that day and I know they are as well."
The president said his administration - with legislation approved by Congress - had taken "decisive action" by getting money for taxpayers and businesses, which are to receive tax incentives to invest. He said that will create new jobs.
"Small business owners are dreamers and doers," Mr. Bush said. "We want to watch them and help them expand."
Mr. Bush says there is a rough patch right now in the economy, "But I'm confident that in the long term, we'll come out stronger than ever before."
© MMVIII The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.



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See all 70 CommentsReally?
And putting in NAFTA supporting, border opening, throw money at every hard case, Dems are going to fix things?
Keep dreaming! That''s what liberals do best anyhow.
Howdy Doody thinks you can increase the national debt by 50% in 7 years, and avoid the bills when they come due.
I don''t think so.
The good news is that many of the people who will suffer voted for Bushit in 2004. Serves them right.
As for the rest--the innocent suffer along with the guilty.
COMMON SENCE, PAULSON,BEN,AND ALL CONGRESS THATS WHAT IS NEEDED.. IF YOU WOULD OF PAY OFF ALL THE MORTGAGE MESS THAT IS HAPPEN AND WILL BE HAPPENING FOR A LONG TIME, THEY LIED OF THE VALUES OF ALL THE PROPERTYS...THEY DID,,THEN SOLD THEM ON A LIE TO INVESTERS..SO WHO SPECULATED MORE...AGAIN YOUR BANKING BODDIES YOU BAILED OUT..AND IT SHOW WHAT A DISGRACE YOU REALLY ARE........
AND BUSH AND PAULSON AND FEDS SAY DONT WORRIE, THE UNDERLINE IS STRONG..AMERICANS BETTER START TAKING ALL THEY HAVE OUT OF MARKETS,AND BANKS BEFORE ITS TO LATE.
Unlike home lenders catering to credit-challenged specializes in making large loans to people with good credit. But like many nonbank lenders dependent on short-term borrowings, Thornburg has also been caught up in the credit-market storm since last summer as the credit crunch has severely restricted its access to capital.
Thornburg''''''''s latest problems began last month when there was a sharp drop in the values of mortgage securities it held as collateral to secure its borrowings. That, in turn, drove its lenders to demand more collateral or immediate repayment, known as margin calls.
now the truth comes out or i should say the start of the truth is comming out..
this mortgage company was doing buisness with triple a credit so whats happen?? see it has nothing to do with sub-prime, its has all to do with house''''''''s being worth at leases 50% less than what they lie to investors of its worth..now thats the truth..
I like your view of idiot and chief
How much medication is this freaking idiot on??????
Modern "conservatism" is a morally and economically bankrupting philosophy that promotes the idea that the solution to all of Americas problems is to put more and more money into the hands of the super-wealthy and simply borrow the money to do it. This borrow and spend approach to governing always fails but they keep doing it.
The Great Emperor wants to leave office (we all hope!) knowing that Corporate America will have had the best time for profits that it has ever had and that the rich will not have to worry about their financial futures for a long time.
As far as the poor and what is left of the middle class, The Great Emperor is leaving the cowardly Whimpo-crats to worry about them!
WHAT A GUY!!!!!!!!
SIG HEIL, BUSH!!!!
sig heil (more of the same), McCain????
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Posted by killtheliars at 02:28 PM : Mar 26, 2008
+ report abuse
Not to mention the special sexual orientation his fellow inmates would treat him to. Could we make wagers on that as well?
This is a funny little slow-news day story.
Thank you, CBS - for the chuckle.
The President who was never deigned to go to Dover Air Force Base to salute the fallen who are coming home says no photographs of their coffins can be permitted because that would hurt the feelings of the families. This is false, tragically false; the real reason is that day after day the photos would starkly reveal the price of Bush%u2019s folly.
I tried to put this on HRC site & they never posted it - guess they don''t want her supporters to know the truth about her "Church".
ENJOY!
Republicans:
Stop feeling so bad and stop voting for GOP''er just because you keep hearing the word "team" associated with them. This is not Football, your votes can help decide whether our brothers and sisters fight and die for causes that all Americans believe in and support.
Do not let your guilt get in the way of your intelligence!
By the way, where are the centrist Republicans? Why does the GOP have to have a big rubber stamp as a constituency?
I would rather have a "inexperienced" Democrat wasting a billion on helping the poor or disabled or uneducated, than have a neo-con Republican blow a billion on killing tens of thousands of innocent Iraqi and thousands of US service men and women.
In the last 8 years or so Republicans have shown me that they will do anything and everything in their power to keep you from retaining an opinion based on the facts that their incompetence is comprised of.
Posted by sleepyric at 03:38 PM : Mar 26, 2008
Oil is pegged to the dollar. When the value of the dollar nose-dives down - a barrel of oil will increase upward to maintain its value.
Posted by killtheliars at 02:28 PM : Mar 26, 2008
Watch him get waterboarded.
Hear him say - "Hey that''s not water !"
Republicans:
Stop feeling so bad and stop voting for GOP''''er just because you keep hearing the word "team" associated with them. This is not Football, your votes can help decide whether our brothers and sisters fight and die for causes that all Americans believe in and support.
Do not let your guilt get in the way of your intelligence!
By the way, where are the centrist Republicans? Why does the GOP have to have a big rubber stamp as a constituency?
I would rather have a "inexperienced" Democrat wasting a billion on helping the poor or disabled or uneducated, than have a neo-con Republican blow a billion on killing tens of thousands of innocent Iraqi and thousands of US service men and women.
In the last 8 years or so Republicans have shown me that they will do anything and everything in their power to keep you from retaining an opinion based on the facts that their incompetence is comprised of.
Posted by getcentered at 03:29 PM : Mar 26, 2008
"
Wow, what a good post. Only Ru$h Limbau reads this on his show. Oops he is on his dose of Oxicontin so he cannot read or understand that is "RATIONAL".
Tax cuts are going to cure the economy? From what, the last round of tax cuts??
Once again Paulson defended the government''s role in coming to the aid of Bear Stearns - which has been criticized by some Democrats and others as akin to a federal bailout.
AND 100 MILLION AMERICANS ARE FACEING BANKRUPY, SO WERE IS MY BAILOUT..AND WE DIDN''T LIE ABOUT THE VALUE OF OUR HOMES..THEY DID,
"Bear Stearns found itself facing bankruptcy,"
Paulson said. "The Federal Reserve acted promptly to resolve the Bear Stearns situation and avoid a disorderly wind-down. It is the job of regulators to come together to address times such as this; and we did so. Our focus was the stability and orderliness of our financial markets."
Paulson said the administration will explore ways to help struggling homeowners at risk of losing their homes. But he was cool to some of the proposals put forth by Democrats on Capitol Hill, saying that "most are not yet ready for the starting gate."
In addition, he rejected the need for a "systemwide solution" to deal with homeowners who have no equity in their home. That''s when one''s mortgage eclipses the value of their home.
Fed Chairman Ben Bernanke recently urged lenders to help distressed homeowners by lowering the amount of their loans.
Doctor Georgie''s miracle cure is putting a Band-Aid on a compound fracture....
At least, to my perception, it used to be that good work paid better. Now it''s just being sold out, regardless of where, for the lowest "cost". Quality be damned. Workers be damned. People spending money be damned. People saving and investing I fear will be damned too.
I shouldn''t digress too much; the article discusses the rebates. HERE is why they will help: We will either save it, or put it back into house/student loan/credit card/other payments. If debt is a problem in America, reducing it would help make our Dollar look better. This rebate process will have a negative effect on the national debt, but there''s plenty of pork that can be cut. Oh, will the congresspeople vote for more pay hikes and perks? That''s irresponsible too...
Here''s a question for all of the Republicans who like to throw around the "tax-and-spend" stereotype about Democrats: what''s worse, tax-and-spend, or spend-and-spend?
Posted by Element51 at 07:40 PM : Mar 26, 2008
Look at other indicators too. The state Republican parties are in trouble big time. The Republican fund raising is way behind. And McCain gets his Cheney caught in his zipper daily...
Look folks, this recession was brought on because we spend too much money. Now we can''t make our credit card payments, so demand crashed. The government can''t fix the problem. They think spending is the solution. The real answer is how much we save. The dollar is only as good as the production that backs it. If we spend more than we produce, then we have an inflation problem, i.e. credit card debt. Unfortunately, we''ve spent so much time building this house of cards, we forgot that it has to fall sooner or later. That 80,000 in credit card debt is actually 100% pure inflation. In order for our dollar to go back to normal, we need to pay off the debt with real money and stop spending more than we make. Think about that next time you go to the gas pump.
Whose economy? It goes on Bush''s tab, that he plans on handing off to the children, ensuring that THEIR economy tanks. (cuz he always cuts taxes but not govt spending).
Which "right things" are those exactly? Saying that winning the war would "be easy" back in 2003? Saying the economy is fine here in 2008? The guy who refused to vote on a bill last year that would have overhauled mortgage lending practices? Who in 2005 refused to vote on a bill restricting predatory mortgage companies? Mr "I hate lobbyists" whose bus is filled with them - some actually working out of his campaign bus itself?
I agree with you, "Right things" is a good phrase, ''cause it''s just what the Right wants.
Yeah, a LOUSY $600 rebate, whop-te-do, for the majority of people thats not even one mortgage payment, one weeks paycheck for most people, the cost for one recliner or sofa, maybe a computer.
Most people will simply pay BILLS with it, since its not enough to do much more with. You want to stimulate the economy, try a rebate of last years TAXES, with that amount at least people can do something, but $600 is chump change.
Posted by Tednelson21"
Theres that WORM and VIRUS site again trying to ensnare people''s PC''s, reporting as spam.
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