President Hosts Economic Forum: Remarks by the President at the Economic Forum Plenary Session

The White House ^ | 13 August 2002 | President Bush

[PhiKapMom]

Posted for your information!

[SEGUET]

Let me see - "G."W."ALL STREET and the lads, says the economy is good - 3 hours later the Fed says it ain't so hot and could get much worse -

Huh - I'll opt for the Fed's inturpretation and wonder out loud why in the world would a bunch of amatuers offer a favorable prognosis just prior to having the "pros" weigh in with a more studied assessment -

Putting the horse before the cart is one thing - but when the horse's head is facing the "Ranch-hand" that's just plain stupid.

[RLK]

Contentless mush that could have been heard from a high school kid. Clinton, now this. Will America ever again see an adult president?

[jwalsh07]

Yeah, the Fed did such an outstanding job handling the money supply that we haven't slid into recession in ages.

[Quicksilver]

A limited and focused government is essential to a growing economy. And if the Congress won't show spending restraint, I intend to enforce spending restraint. (Applause.) And this work of enforcement on spending continues today. At the end of the session, the Congress passed an emergency spending bill to strengthen our military, protect the homeland and to complete the commitment of $20 billion I made to the citizens of New York. But they also sent along more than $5 billion in extra spending I didn't ask for. Some of that $5 billion I have endorsed and will work to secure through amendments to the '03 budget -- like AIDS prevention money and support for Israel and Palestine.

But a lot of that money has nothing to do with national emergency, and I'll give you one example: a new facility for storing the government's collection of bugs and worms. I made my opposition clear. We were pretty plainspoken about the supplemental. But those who wrote the bill designed it so I have to spend all $5 of the extra billion dollars or spend none of it. That's how they wrote the supplemental. Those are the rules they placed upon my administration. I understand their position, and today they're going to learn mine. We'll spend none of it. (Applause.)

BUMP!

[ATOMIC_PUNK]

When will people learn that the economy is not the stock market sheeeze

[PhiKapMom]

Thanks to both of you for bumping this thread.

[Kev-Head]

The movement in the markets today had nothing to do with President Bush's speech. The market reacted to the Fed saying that they would not lower interest rates.

In the world of finance the Stock Market and the economy are two different things.

To get a handle on the economy look at the key reports that are published every month. Every key report shows an increase in the economy.

What you are seeing in the markets is the residue left over from the free wheelin 90's. People where using the markets as a get rich quick vehicle. The stock market started to look like the comodoties market. People where buying stock that was so overinflated that they where bound to loose. I can't understand how a person could buy a stock at $140 or more when that company never made a dime of profit.

As for cookin of the books. Which has had a devistating effect on the markets.

When did all that happen during Clintons era. They learned quick that you can could lie and get away with it. They had a great teacher. But it has now caught up with them. And if you had invested in their companies it has caught up with you too.

What we are seeing today is the market coming back reality. And the weeding out of a bunch of thieves and liars.

Pls. get a handle on the difference between the economy and the markets.

[ATOMIC_PUNK]

You have it exactly right kev hands down this economy will take care of itself the stock market on the other hand is manipulated and twisted to serve its own course

Bumps to the gang

[WhiteGuy]

"Here's one good idea to make sure we continue to grow our economy. And that is Congress, for the long-term economic security of America, needs to restrain spending."

Wow, you've done such a great job of it so far......

Oh wait.... you are a compassionate republican....

Never mind

[gov_bean_ counter]

Isn't tomorrow "Corporate D-Day"? Maybe that had something to do with today.

FWIW, many years ago I read a book titled "The Mind of the Market". Basically a profile of who the Wall Street analysts were and their methodology. I was convinced at that point, I would do my own investing. It is a shame that they have the ability to move such large sums on a single day. A monkey could make better decisions. Hey wait, hasn't that been proven too?

[VRWC For Truth]

A limited and focused government is essential to a growing economy.

Bump

[Fracas]

Thanks for posting this!

And thanks to the President for NOT inviting Greenspan!

[PhiKapMom]

Greenspan not being invited was a good call! Still cannot understand why no one is writing that he played politics with interest rates during the 2000 elections and now we are paying for it. But then I could be wrong and Greenspan is a genius?

Then there is always the cooked books of the clinton administration to make the economy look better than it is!

[Ragtime Cowgirl]

Thank you for posting the President's comments...the only factual account of the economic forum to appear in the "tabloids," unfortunately. Anyone else know the FoxNews # by heart?

[Satadru]

you've now got the tools, go out there and start negotiating free trade agreements around the world.

What a crock! How could people negotiate free trade agreements, when the President will institute tariffs whenever he needs to satisfy some Union groups.

Congress needs to do is to join us in the call to make these tax relief permanent

How about make those cuts in effect now, so people do not have to wait until 2005 (after his Presidency) to get their taxes down to 33%.

As I said, for truly pressing needs and priorities -- such as AIDS prevention and resources for the Middle East -- we'll send to Congress specific amendments to get these funds quickly.

AIDS prevention and resources for the Middle East are pressing needs. No George, cutting the size of your govt is a pressing need. Lets face it, he does not really oppose that 5 billion dollar bill, because he wants to include all the pork spending in them in supplemental bills so he makes himself look fiscally conservative for the upcoming elections.

The rest of his speech is full of welfare programs like medicare and paying downpayments for homes owned by minorities. This man truly speaks from both sides of his mouth, but from neither side of his brain. George, this is an election year. At least appear to be a conservative so conservatives will come out and vote Republican.

[Satadru]

We ought to have a downpayment assistance program out of Washington, D.C.

This one is going down in my scrapbook as one of the worst things ever spoken by any President, ever.

[Satadru]

We need to make sure we have education programs, so that people understand what it means to buy a home; so that they're educated in what it takes to own a home.

More BS.

[RLK]

As I said, for truly pressing needs and priorities -- such as AIDS prevention and resources for the Middle East -- we'll send to Congress specific amendments to get these funds quickly.

AIDS prevention and resources for the Middle East are pressing needs. No George ...

-------------------------------

The AIDS bit was taken from Bubba Clinton's recent speeches. The problem is we have a president who is lost, floundering, and grasping at issues such as AIDS in foreign countries for something to say. To do so, he's taking up the relay baton from the Clintons. His mentality is such that that is the only level of fuctioning of which he is capable. ...that and new wars with Saddam Hussein.

It runs in the family. That's what we got from his father, giving us bill Clinton. If we're not careful the just-as-dumb kid is going to give us Hillary Clinton.

Bush does not understand economics or anything else in any depth. He thinks Mexican immigration will save him.

[justshe]

Thank you for posting GW's speech from today. I missed it. And I think it was a good speech, contrary to the majority of posts on this thread. Sigh.