Posted on 01/03/2008 6:31:12 PM PST by hedgetrimmer
WASHINGTON (AP) -- Amid new worries about a possible recession, the housing slump and rising oil prices, President Bush is exploring an economic stimulus package to reinforce the U.S. economy.
White House press secretary Dana Perino said Thursday that Bush is closely monitoring economic trends and is seeking input from his economic advisers on the pros and cons of such a package.
"The president has indicated that he will not make up his mind as to whether or not to lay out a package until the State of the Union," Perino said about the president's speech on Jan. 28. "Our economic policy is like our military policy. It is based on conditions on the ground and the president listens to advice from his economic advisers."
On Friday, Bush will receive an update from a working group on financial markets, an interagency panel that meets regularly to discuss market conditions and regulatory policy. Treasury Secretary Henry Paulson is chairman of the group. The other members are: Federal Reserve Chairman Ben Bernanke; Chris Cox, chairman of the Securities and Exchange Commission; and Walt Lukken, acting director of the Commodity Futures Trading Commission.
The Commerce Department reported Thursday that orders for manufactured goods rose by 1.5 percent in November, the biggest rise since a 3.4 percent surge in July. But the increase reflected higher petroleum prices and was not seen as a sign of renewed strength in the nation's manufacturing sector.
The Federal Reserve cut a key rate three times last year. Many economists predict there will be more rate cuts to come to help energize a weakening economy.
The president says he knows the public is frustrated and restless about the economy, and that his administration is trying to help people deal with their mortgage crises, energy bills and education concerns.
In his end-of-the-year message, Bush said, "The underpinnings of our economy have proven strong, competitive, and resilient enough to overcome the challenges we face."
or
....paid for with the old charge card!!
A cut in capital gains taxes would have to be funded with budget cuts or paid by a charge card? Is it better for me to have more of my money or should it go to a government that refuses to control their spending? Which is more likely to stimulate the economy?
Weird, I am not sure what the President does to cause oil price increases. The economy has grown throughout his entire term once his tax cuts helped us grow out of a recession. Besides the illegal immigration comment, which is quite valid, I am not quite sure why you are directing blame to this president.
All I posted was historical fact. You can like them are not.
Free trade you equate with central planning? What do you equate free markets with, Proletariat?
dude, you really should cut down on the tin foil.
Bush vows to win war against recession (2003) Tucked into President Bush's first State of the Union address last night, nearly lost in the talk of war and terrorism, were words Connie Correll had been waiting to hear.
"Investment" and "free trade."
Dry as they may seem, those words represented new policies Correll, executive vice president of the high-tech trade group TechNet, has been seeking for months.
Bush called on Congress last night to give him greater authority to negotiate free-trade agreements. And he pushed for passage of his economic stimulus plan, part of which would allow companies to write off a higher percentage of the money they invest in new equipment. After a year of weak sales, the Silicon Valley companies TechNet represents badly need their customers to start buying again.
That dude is a chick.
It’s only politic to consider drilling on 3 per cent of American soil, the overwhelming majority of which is already saturated with oil wells or bereft of oil resources. Drill into a vast oil reserve under the frozen tundra? That’s terminally impolitic and increasingly so. Think about the alleged damage to the mating habits of the highly endangered common biting mosquito cloud. And then there’s global warming.
I propose a 45% across-the-board flat income tax with no exemptions, adjustments, deductions, credits, or other reductions. Such tax would displace both payroll and income taxes. Okay, perhaps we might allow some common deductions, allowing perhaps $10,000 tax-free earned income, $10,000 tax-free investment income, and $25,000 tax-free entrepreneurial income per person so as not to hurt the poor. No loopholes—the system works because it’s simple and predictable, not because it’s cheap and corrupt. If Congress balances the federal budget and pays back one-tenth of the debt, then we can lower the rate, further stimulating the economy. If the Congress spends more money than revenues flow into the treasury, then the rate increases automatically.
didn’t Aerosmith have a song something like that?
No he’s handing the GOP an issue to run on since they don’t a freaking clue that free markets and low taxes win elections, not this Pat Buchanist neo-mercantilistic garbage.
Bush said “free trade” would end the recession in 2003. Apparently it didn’t.
Tax cuts aren’t going to help the domestic economy... we have too many foreign corporations and governments looting it now, and tax cuts won’t stop them.
I know what you mean.
Hawaii is definitely an interesting place.
I am actually not in Hawaii now... I am in another tropical desitination far far away. None of it compares to Hawaii though.
Maybe its me but my portfolio and home have skyrocketed.
Fortunately I dont feel the pain so I guess Go Dubya for my family
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