CRAWFORD, Texas, May 3, 2008
Bush Defends His Economic Record
Says Admin. Has Been "Clear And Candid" About Nation's Economy; Dems Fault President For Ignoring Home Front
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(CBS/AP)
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Interactive Bush Presidency The president's agenda, plus facts, figures, major events and key personalities.
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He's pinning his hopes to an economic "surge" being delivered starting this week in the form of tax rebate checks.
"Most economic experts predict that the stimulus will have a positive effect on the economy in this quarter and even a greater impact in the next," Mr. Bush said.
In his Saturday radio address the president defended his record and his rhetoric, saying that his administration has been "clear and candid" about the nation's economy.
"We saw the economic slowdown coming, we were up front about these concerns with the American people, and we've been taking decisive action," Mr. Bush said.
The president's comments appeared at least partly in response to a drumbeat of criticism from Democratic leaders, who say his view of the economy is rosy and unrealistic.
Mr. Bush sounded an upbeat tone following a modest uptick of economic news this week.
The economy grew in the first quarter of the year, but only by a meager 0.6 percent. Yet it was not the contraction that some analysts feared. Employers slashed fewer jobs in April than they had in earlier months. The unemployment rate in April also fell slightly.
"No temporary setbacks can hold back the most powerful force in our economy - the ingenuity of the American people," Mr. Bush said. "Because of your hard work and dedication, I am confident that we will weather this rough period and emerge stronger than ever."
Consumer confidence, a vital part of the economy's health, has hit record lows. And in the public's mind, the president's handling of the economy has taken a serious blow, too.
In Mr. Bush's final year in office, families have been hit from all sides - soaring gas prices, crumbling mortgages, rising grocery bills, struggles to afford college loans.
The president is counting on a short-term economic boost to help. In a deal he reached with Congress back in February, tax rebate checks of up to $600 for individuals and $1,200 for couples are on their way to more than 130 million households.
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"This package will help American families increase their purchasing power and help offset the high prices that we're seeing at the gas pump and the grocery store," Mr. Bush said.My Administration has been clear and candid on the state of the economy. We saw the economic slowdown coming, we were up front about these concerns with the American people, and we've been taking decisive action.
President BushThe true effect of those rebates remains a hotly debated question in economic circles.
Indiana Rep. Andre Carson said more is needed.
"While these recovery rebate checks are a significant first step, we know we must do more to help workers who have lost their jobs and families who are at risk of losing their homes," Carson said Saturday in the Democrats' weekly radio address. "Democrats are also fighting for a second economic stimulus package and are working hard to enact comprehensive housing legislation that will help more Americans avoid foreclosure and hold on to the American Dream."
Carson also noted last Thursday's anniversary of Bush declaring "mission accomplished" in Iraq.
"If we took even a fraction of the billions of dollars we spend in Iraq and used them here at home, we could make real progress and help get our nation out of our economic slump," the Democrat said.
Mr. Bush used the bulk of his weekly radio platform to pressure Congress, once again, into approving legislation he says would help the sluggish economy rebound even more.
CBS News White House correspondent Mark Knoller said Mr. Bush argued once again for making permanent his tax cuts, set to expire in 2010, and to allow drilling for oil in a protected region of northern Alaska.
He also encouraged more oil refining capacity, and asked lawmakers to modernize the Federal Housing Administration to allow some additional homeowners to refinance from subprime loans into government-backed mortgages.
The president has made such arguments for weeks, to no avail on Capitol Hill.
Mr. Bush taped the radio address in Washington on Friday before delivering an economic speech outside of St. Louis and then heading to his Texas ranch for the weekend.
- Click here to read the full text of President Bush's radio address.
- Click here to read the Democratic Party's response, by Rep. Andre Carson of Indiana.
© MMVIII, CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
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See all 226 CommentsSays Admin. Has Been "Clear And Candid" About
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LMAO. I am really getting worried about this guy. I think he is delusional. I used to think he was just a liar, but anymore I think maybe he doesn''t know the difference and thinks he is telling the truth. (Which is actually a lot scarier)
johndevinejr at 12:27 PM : May 05, 2008
"This is NOT a failed Republican economic policy.
This is the result that was expected and planned for."
Rev. Wright says "can I get an Amen?"
HOW. WE THE PEOPLE DONT WORK OR DO ANYTHING FOR A FEW WEEKS, SEE HOW FAST THEY START DOING SOMETHING FOR AMERICANS, WHEN NO MONEY IS GOING ONTO THE GOVERNEMNT FOR A FEW WEEKS, SEE NO FOOD BEING DRIVEN TO STORES, THIS IS THE ONLY WAY WE AS AMERICANS CAN TAKE OUR COUNTRY BACK.. SO AMERICANS BETTER WAKE UP AND LETS START A COMPLETE BOY-COTT OF WORK..THIS WILL ONLY WORK IF ALL DO IT.
for-america@hotmail.com
Posted by gwno1,
An inspiration? So do you want to share what he has done that has not been a failure in the last 7 plus years?
Why, I expect he spat at them just this morning!
Hey, ColoredHOboy: Was ''ColoredNegro'' just too subtle a username?
Obama will give 845 billion= 1 percent of our economy!
DO THE MATH!
You tell me can we afford this and other help he plans to give to the world while are own people are starving, Black or White, sick and dying and homeless in the streets. This picture reminds me of a sick puppy who needs love and we turn around and kick it and choke it, America, and chose to help our neighbors doberman, attack trained, in order to have a goooood reputation. What a sick joke!
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Posted by ColoredHOboy at 11:06 AM : May 04, 2008
The joke is a ignorant White boy with a silly username.
Go back to school and get your G.E.D. A mind is a terrible thing to waste.
Posted by empath06 at 12:05 PM : May 04, 2008
A military junta?
Comforting, isn''''t it.
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Posted by RowdyTexan2 at 11:22 AM : May 04, 2008
+ report abuse
Caught in yet another lie, huh Rowdy...
Clinton''s not-so-admirable brassy move was proposing a gas-tax holiday and then sticking with it, when even economists she respects, like the New York Times'' Paul Krugman, produced evidence it won''t work to depress prices, and it is counter to everything Clinton has said she believes about promoting energy conservation. That''s gumption, I guess; Clinton is smart enough to know Krugman (and everybody else who''s criticized her) is right about this. On this topic, though, Obama is far more courageous, for continuing to oppose the gas-tax holiday even though pandering to fed-up voters might help him politically. (Maybe what Clinton has is gall, in addition to balls.)
That''s OK, you and Hillabush can go have a good cry as you continue to lose.
Eight years ago I said: Bush will ruin the country. BULLSEYE AGAIN.
what are they going to put in his place next?
Why would Bush/Cheney attend any of the funerals of the military members they''ve put in harm''s way - especially if their deaths have NO "profit potential" for them.
King George would rather be in SAUDI waving around Golden Swords with BIN LADEN''S BILLIONAIRE RELATIVES and CHENEY would rather be making "inspection trips" to oversee the TRANSFER of America''s wealth (and HIS TRUST FUND) VIA HALIBURTON to the Middle East.
Gotta admit those 2 were the BEST THING TO HAPPEN for OPEC!
Looks like all you need is a white sheet, a noose and a tree.
Yo''re doing mighty fine, boy!
The waiting list for the Chevy Volt last time I checked is years long.
I signed up but didn''t put down anything so..it''ll be a while even after Chevy FINALLY gets retooled and moving on this one.
The HYPE is GREAT but after being LURED into their showroom the "bait and switch" efforts are the only thing that goes on and I couldn''t find ANY kind of decent gas sipping vehicle on any of their lots.
For now, my decked out automatic Yaris Sedan gets nearly 40 MPG and my daughter''s Manual Yaris 3 door is getting well over 40 some MPG. Good luck finding one around here in SUV land they are preordered or last 30 seconds on the lot before being bought.
I would have to agree with your assessment, anyone that agrees or supports bush has got to be out of their minds.
In this one case I have to agree with Obama - it''s a temporary political stunt to gain votes and they both are "hoping" that when the TAX is RESTORED in the fall it will be too late for the voters that "fell for" this SCAM to rescind any extra votes they''ve gained from the scam.
Comforting, isn''t it.
Obama will give 845 billion= 1 percent of our economy!
DO THE MATH!
You tell me can we afford this and other help he plans to give to the world while are own people are starving, Black or White, sick and dying and homeless in the streets. This picture reminds me of a sick puppy who needs love and we turn around and kick it and choke it, America, and chose to help our neighbors doberman, attack trained, in order to have a goooood reputation. What a sick joke!
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