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."
I’m sorry. I thought you were trying to link the two in your #74.
That reminds me . . . Heineken is on sale at the store. 24 12 oz. bottles for 9.95 jobs.
“I’m sorry. I thought you were trying to link the two in your #74.”
Not in the sense that a tax cut has to be “paid for” - just acknowledging that there is always an increased spending penalty to be paid whenever you have a Congress that is hostile towards letting taxpayers keep more of their own money.
Perhaps the Pres can issue each of us a few shares in Exxon or the New York Yankees. If you own it, then when you gas up you are actually paying yourself. That’s the way it is done.
Hey it wasn't Hillary or Obama or the economic ignorant that caused the current problems or made Bush consider a stimulus package. It was your think-alikes. Face-it voters rule not charts.
Hey, I didn't cause the current problems either. Glad we got that straightened out.
It was your think-alikes.
How did my think-alikes cause problems?
Face-it voters rule not charts.
I know, even dumb voters.
With Huckabee soaring in the polls, this is the best thing the White House could do to gain a little more popularity, I mean after yesterday’s Huckaboom isn’t it obvious that many in the party LOVE the government?
Sounds like a bad idea to me, even if it included an income tax cut. He ought to drop support for subsidized biofuels, as it appears to be driving up the cost of food. That and reduce corporate income taxes, capital gains taxes.
He can stop sending money, jobs and intellectual property out of country to pay for the falsely named “free trade”. That’ll save a trillion.
Yes, I’m sure that sparking another world-wide recession will help our economy.
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