Bush Defends His Economic Record

Says Admin. Has Been "Clear And Candid" About Nation's Economy; Dems Fault President For Ignoring Home Front

(CBS/AP)  Despite four months of job losses and barely positive economic growth, President Bush said today that Americans should have confidence in the long-term outlook of the economy.

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.

"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.

The 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.

[kansas1946]

Bush Defends His Economic Record
Says 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)

"According to the non-partisan Congressional Budget Office, income for the bottom half of American households rose six percent since 1979 but, through 2005, the income of the top one percent skyrocketed - by 228 percent."

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?"

[forthepeopl1]

we the people can STOP all in CONGRESS and the WHITEHOUSE with something so easy, and we would not have to fire a shot at anyone to have this REVOLUTION, THATS RIGHT A REVOLUTION IS WHAT IS NEEDED TO STOP THEM ALL IN THEIR TRACKS.

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.

[e-mail]

[the74blaster]

God bless you President Bush I wish we could keep you in office for life. You are my hero and an inspiration to us all. Thank you for keeping America great

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?

[johnshaft4]

Fuzzy math boy.

[noloyalisti]

Bushocccio defending his economic record is like Hitler defending his treatment of the Jews

[johnshaft4]

It is obvious that Boy George is back on the ethanol.

[ubrew12]

ainttaken said: "I... love [ColoredHOboy''s] dedication to our homeless. What have you personaly done for them lately? "

Why, I expect he spat at them just this morning!

Hey, ColoredHOboy: Was ''ColoredNegro'' just too subtle a username?

[vmcneal2]

Bushh gave 770 million= 1 1000th 0f 1 percent of our economy.

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.

[vmcneal2]

Obama just for starters will give 845 Billion dollars away from Americans who need help now to Africans! Posted by ColoredHOboy

Go back to school and get your G.E.D. A mind is a terrible thing to waste.