Posted on 10/04/2008 3:47:37 PM PDT by daisyscarlett
President Bush delivered his weekly radio address today. The subject was, once again, the economy. The President and First Lady are spending the weekend at their ranch in Crawford TX. Today, they took a short trip to Midland TX where they visited his boyhood home. They also attended a barbecue fund raiser for several Texans running for Congress.
US Secretary of State Condoleezza Rice held talks Saturday in India on a visit to showcase a landmark bilateral nuclear deal, but last-minute hitches derailed the scheduled signing of the pact.
First?
greetings again from Pennsylvania
THANK YOU FOR WAITING FOR THE "ALL CLEAR" BEFORE POSTING ANY PHOTOS
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Fact sheet In Focus: Economy
THE PRESIDENT: Good morning. This week, Congress passed a bipartisan rescue package to address the instability in America's financial system. This was a difficult vote for many members of the House and Senate, but voting for it was the right choice for America's economy and for taxpayers like you. I appreciate their efforts to help stop the crisis in our financial markets from spreading to our entire economy. And I appreciate their willingness to work across party lines in the midst of an election season.
The legislation Congress passed provides the necessary tools to address the underlying problem in our financial system. The root of this problem is that, as assets that banks hold have lost value, their ability to provide credit has been restricted, making it more difficult for businesses and consumers to obtain affordable loans.
Without decisive action, this credit crunch threatens to harm our entire economy. With this legislation, the Federal government can help banks and other financial institutions resume lending. This will allow them to continue providing the capital that is essential to creating jobs, financing college educations, and helping American families meet their daily needs.
Though the $700 billion dedicated to this plan is a large amount, the final cost to taxpayers will actually be much lower. Many of the assets that the government will be purchasing still have significant underlying value. As time passes, they will likely go up in price. And this means that the government should eventually be able to recoup much, if not all, of the original expenditure.
This package will also increase the safety of Americans' personal finances. For 75 years, the FDIC has provided insurance for savings accounts, checking accounts, and certificates of deposit. A similar insurance program is in effect for deposits in credit unions. And since these programs were instituted, no one has ever lost a penny on an insured deposit. The rescue package expands this protection by temporarily increasing the amount insured by the Federal government in banks and credit unions from $100,000 to $250,000. These steps should reassure Americans, especially small business owners, that their money is safe -- and it should restore confidence in the health of our banking system.
In addition to addressing the immediate needs of our financial system, this package will also help to spur America's long-term economic growth. This week, we learned that our Nation lost more jobs in September. Under these circumstances, it is essential for the government to reduce the burdens on workers and business owners. And that is why the rescue package includes relief from the Alternative Minimum Tax, which would otherwise increase taxes for 26 million taxpayers by an average of $2,200. And that is why it includes tax relief for businesses, which can use these savings to hire new employees and finance new investment.
By taking all these steps, we can begin to put our economy on the road to recovery. While these efforts will be effective, they will also take time to implement. My Administration will move as quickly as possible, but the benefits of this package will not all be felt immediately. The Federal government will undertake this rescue plan at a careful and deliberate pace to ensure that your tax dollars are spent wisely.
I know many of you listening this morning are anxious about the state of our economy and what it means for your personal finances. I am confident that the implementation of this relief package can begin to address those concerns. I'm confident by getting our markets moving, we will help unleash the key to our continued economic success: the entrepreneurial spirit of the American people.
Thank you for listening.
Hi daisy,
Glued to the Phillies playoff game, and keeping my eye on FR. Thanks for the Dose.
President Bush and first lady Laura Bush step from Marine One before departing the Texas State Technical College Airfield Saturday, Oct. 4, 2008, in Waco, Texas, for a short trip to Midland, Texas.
President Bush walks with first lady Laura Bush to board Air Force One Saturday, Oct. 4, 2008, in Waco, Texas
U.S. President George W. Bush and first lady, Laura Bush, depart Waco for Midland, Texas, October 4, 2008.
U.S. President George W. Bush and first lady, Laura Bush, depart Waco for Midland, Texas, October 4, 2008.
President Bush and first lady Laura Bush wave as they exit Air Force One after arriving at Midland International Airport, Saturday, Oct. 4, 2008, in Midland, Texas.
Please remove me from this Ping list.
President Bush and first lady Laura Bush visit the President's childhood home Saturday, Oct. 4, 2008, in Midland, Texas.
President Bush and first lady Laura Bush talk about walking through his childhood home in Midland, Texas after they toured the home which was restored to it's 1950's era decor on Saturday, Oct. 3, 2008 following the Bush's attendance at a Republican fundraiser
President Bush and first lady Laura Bush wave as they enter Air Force One to depart Midland International Airport, Saturday, Oct. 4, 2008, in Midland, Texas.
President Bush and his wife Laura step from Air Force One after arriving at Texas State Technical College Airfield Saturday, Oct. 4, 2008 after a short trip to Midlland, Texas. The couple are spending the weekend at their nearby Crawford, Texas ranch.
Secretary of State Condoleezza Rice, left, arrived at an airport in New Delhi, India, Saturday, Oct. 4, 2008. Rice is on a day-long visit to New Delhi. She was in the Indian capital Saturday to commemorate — but not put her signature to — a historic deal that opens up U.S. nuclear trade with the Asia giant.
U.S. Secretary of State Condoleezza Rice, right, shakes hands with Indian Foreign Minister Pranab Mukherjee in New Delhi, India, Saturday, Oct. 4, 2008. Rice arrived in the Indian capital Saturday to commemorate - but not sign - a historic deal that opens up U.S. nuclear trade with the Asian giant.
India's Foreign Minister Pranab Mukherjee (L) gestures to U.S. Secretary of State Condoleezza Rice before their meeting in New Delhi October 4, 2008. Rice arrived in India on Saturday after Congress ratified a historic nuclear pact, but was unlikely to sign the deal during her visit because of a bureaucratic "glitch".
US Secretary of State Condoleezza Rice arrives in New Delhi. Rice held talks in India on a visit to showcase a landmark bilateral nuclear deal, but last-minute hitches derailed the scheduled signing of the pact.
U.S. Secretary of State Condoleezza Rice gestures during a joint press conference with Indian Foreign Minister Pranab Mukherjee in New Delhi, India, Saturday, Oct. 4, 2008. Rice arrived in the Indian capital Saturday to commemorate, but not sign, a historic deal that opens up U.S. nuclear trade with the Asian giant
U.S. Secretary of State Condoleezza Rice, left, speaks during a joint press conference with Indian Foreign Minister Pranab Mukherjee, right, in New Delhi, India, Saturday, Oct. 4, 2008. Rice arrived in the Indian capital Saturday to commemorate, but not sign, a historic deal that opens up U.S. nuclear trade with the Asian giant.
U.S. Secretary of State Condoleezza Rice (L) speaks as India's Foreign Minister Pranab Mukherjee watches during a joint news conference in New Delhi October 4, 2008. Rice arrived in India on Saturday after Congress ratified a historic nuclear pact, but was unlikely to sign the deal during her visit because of a bureaucratic "glitch".
U.S. Secretary of State Condoleezza Rice speaks during a joint news conference in New Delhi October 4, 2008. Rice arrived in India on Saturday after Congress ratified a historic nuclear pact, but was unlikely to sign the deal during her visit because of a bureaucratic "glitch".
US Secretary of State Condoleezza Rice, left, speaks with Indian Prime Minister Manmohan Singh in New Delhi, India, Saturday, Oct. 4, 2008. The top American and Indian diplomats on Saturday lauded a new agreement that opens up U.S. nuclear trade with India, but they stopped short of signing the deal, which some private U.S. arms control experts say is likely to speed up nuclear arms competition in Asia.
Republican vice presidential candidate Gov. Sarah Palin, is followed by security in Denver on Saturday, Oct. 3, 2008. Palin was back in Denver to continue campaigning in the battleground state, making two stops in Colorado on Saturday, before heading to the west coast.
Republican vice presidential candidate Gov. Sarah Palin, waves goodbye at the Denver International Airport as she embarks on a plane on Saturday, Oct. 3, 2008. Palin was back in Denver to continue campaigning in the battleground state, making two stops in Colorado on Saturday, before heading to the west coast
In this Feb. 11, 2007 file photo, Todd Palin, left, drives his wife, Alaska Gov. Sarah Palin, to the staring line of the Iron Dog snowmobile race before he starts the race in Big Lake, Alaska. To people in this hard-scrabble region tucked between two soaring mountain ranges, Gov. Sarah Palin is a working-class heroine. As the Republican vice presidential candidate's star rises nationally, she's increasingly held up as the model for life in the Last Frontier.
MAN I didn’t realize how small the crib is Bush childhood crib
Thanx for the ping!
Laura Bush always seems so elegant and proper - always.
I like that.
the hill sides and mountains are coming ALIVE with color by the touch of the Masters hand and his paint brush..Pennsylvania in October is a beautiful place to retire to....cool, quiet, peaceful, but very lonely in the cold winter months~~
hope the President and family can find peace and quiet in their Ranch this weekend. he certainly has a difficult job these remaining months.
stay safe everyone....
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