Posted on 06/06/2008 12:05:49 PM PDT by NormsRevenge
WASHINGTON - President Bush is considering new measures to help stimulate the battered economy, the White House said Friday.
White House counselor Ed Gillespie said aides to Bush are constantly looking at options for new economic proposals.
"There's a short window for the president here when it comes to new policy. We understand that," Gillespie said. "So I guess what I'm saying is, don't rule it out."
Gillespie spoke before a Bush speech on the economy, timed around the ceremonial swearing-in of the president's new housing secretary, Steven Preston. In his remarks, Bush stuck to promoting his existing economic policies.
The government's $168 billion stimulus package, passed in February, began getting tax rebate checks to people last month and helped to energize shoppers. "We're beginning to see signs that the stimulus may be working," Bush said at the Department of Housing and Urban Development.
But analysts believe consumers still are anxious, and a weakening job market could make people feel less inclined to spend. This, and talk that the economy already has fallen into its first recession since 2001, has led to questions about whether a second stimulus might be warranted.
The first one provided rebate checks for individuals and extra tax breaks for businesses. The White House has insisted it needed to wait to see the full effects of the existing stimulus before discussing any new steps.
The president did not unveil any new proposals during his speech, nor even hint whether he believes any are necessary.
Instead, he called on the Democratic-controlled Congress to pass long-sought existing priorities of his, such as making tax cuts passed during his presidency permanent and allowing expanded oil exploration in the United States.
"Unfortunately, these policies are being blocked by the Democratic Congress," he said. "I call on the congressional leaders to put partisanship aside and work with me to enact these important issues for the American people."
Earlier Friday, a government report showed that the nation's unemployment rate jumped to 5.5 percent last month, the biggest monthly rise since 1986 and another sign of a deeply troubled economy. Dwindling job opportunities are combined with continuing hardship in the housing, credit and financial sectors.
Bush noted that a surge of young new entrants to the job market contributed to the worse-than-expected new numbers. But, he said, "It's clearly a sign that is consistent with slow economic growth."
"This is a time of turbulence in the housing market and slow growth for our overall economy," the president said.
Preston, formerly the head of the Small Business Administration, is to be Bush's point man on the slumping housing market and subprime lending crisis. He is likely to be the administration's lead negotiator as Congress and the White House work on legislation to allow the Federal Housing Administration to insure up to $300 billion in refinanced mortgages, including many in which the mortgages exceed the value of their homes.
Here’s a hint ... start drilling for oil on US soil, build nuclear power plants, eliminate the capital gains tax and stand up against his nonsensical green bullsh**.
Woo Hoo, another stimulus check /sarc
Alright, fine...I’ll do more for my part and take more of my tax money back, George.
My wife and I are expecting our tax reissuing of our previously stolen at the point of a gun money shortly. We plan to fill up the tanks of both our vehicles and then go to a burger stand with what is left and celebrate!!!!
Just give me some stuff. I am tired of being a contributor.
Glad I was not trying to drink when I saw that tagline....
But that would create jobs in the USA and all makes too perfect of sense. Sorry, no chance!
If that happened, I would hire 10 new drivers tomorrow!
You got a stimilus check? I didn't get one. The Democrats deemed me one of the rich evil people who keep the brother down.
Open up ANWR, reverse Bill Clinton’s national monument designation that locked billions of tons of coal off-limits, order the EPA and other authorities to relax restrictions on refinery permits. More nuke plants. Promise to veto any environmental legislation that does not increase net energy production. Tell Bernanke to get on his bicycle and start strengthening the dollar, or at least stop the free-fall. What have you got to lose?
}:-)4
Polar Bear:
Repeal the 1967 UN Outer Space Treaty and open the Land Office for recording mining and entry claims to celestial objects. Restore the Frontier.
Took the words right out of my mouth, except the sarcasm part.
Stop handing out billions of dollars to every rinky-dink country?
Stop the crazy democrat-like spending?
(1) Call a special session of Congress and don’t let them go home until they agree to remove all oil-drilling restrictions.
(2) Noisily sell oil from our “strategic” petroleum reserve until the oil market crashes ( and then quietly buy it all back!) . It’s not very “strategic” if our country is going bankrupt due to the high price of oil. This is the emergency we’ve been waiting for!
MAKE THE TAX CUTS PERMANENT!
It would cost NOTHING, and be a powerful stimulus to the economy.
Perhaps another 20 million illegals will stimulate the economy.
Halve the corporate tax rate.
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