Bush acknowledges recession, automakers' troubles
President George W. Bush publicly acknowledged for the first time Friday that the U.S. economy is in a recession and worried aloud that Detroit's Big Three automakers may not all survive their mounting troubles.
Four days after the long-suspected existence of a recession was made official, Bush used the word himself.
"Our economy is in a recession," Bush said flatly, speaking to reporters on the South Lawn only hours after the release of a government report showing the biggest month of job losses in 34 years. "This is in large part because of severe problems in our housing, credit and financial markets, which have resulted in significant job losses."
While repeatedly listing the serious problems in the economy, the White House has refused to embrace the actual term until Monday, when a panel for the National Bureau of Economic Research said the recession began last December and is ongoing.
With automakers, particularly General Motors, in fear of bankruptcy, they are seeking from Washington a huge cash infusion of up to $34 billion, beyond an existing $25 billion loan program. Lawmakers are considering the idea, but there is uncertainty about the level of support on Capitol Hill for that plan.
http://gold-report.blogspot.com/2008/12/bush-acknowledges-re...
IMHO
I think W is smarter than we give him credit for. I remember a couple months ago watching him in an office supply warehouse speaking to the employees. He very accurately described the federal government's role in the current housing bubble and the resulting crisis in the financial sector. I don't think of him as evil or stupid. The problem is that he is weak minded. He is just a puppet that the Project for the New American Century thought could win. Let us not underestimate our oppontents' intelligence. This is an ideological battle for the soul of our country. I like that some of us have found this site as a means to organize and exchange knowledge but the level of organization and the knowledge of our opponents is not something to laugh at.
Did Bush
say ," Due to my reckless disregard for the Constitution, the collusion of the MSM and the complicity of the Federal Reserve, I sent our soldiers off to capture the world's resources which has destroyed our nimble paper money gimmick, which in turn has created havoc and destruction on the American middle class. I should of listened to Ron Paul"
nope
he just shat his pants
Someone must have whispered
in his ear what is going on.
Sad sad sad. How do we keep the masses quiet? By denying that anything is wrong, keep plugging the sinking ship until drowning is inevitable.
Have another drink!
I think it's best that he
I think it's best that he doesn't acknowledge it. I'd rather have him occupied watching the Cartoon Network.
http://federalfallacy.blogspot.com
http://federalfallacy.com