Posted on 09/24/2008 6:42:26 PM PDT by Tennessee Nana
President Bush, warning of the danger of a "long and painful recession," urged Congress to pass his administration's economic rescue package in a rare address to the nation Wednesday night.
"We are in the midst of a serious financial crisis, and the federal government is responding with decisive action," he said.
Bush said the $700 billion rescue package is not aimed at saving any one financial institution, but rather at "preserving America's economy."
He cast the need for the package in personal terms, warning American taxpayers that their home values, their retirement accounts and their personal businesses could be at risk if the economy continues to spiral
-Snip-
The Associated Press contributed to this report.
(Excerpt) Read more at foxnews.com ...
Just a recession, not a depression? Pfffft!
The same idiots who got us into the mess are now telling us they can fix the mess.
I heard Bush and he is still talking about the same damn thing they proposed in the first place. NO BLANK CHECK. Why do they have such a hard problem dealing with this. There is absolutely no reason why we can not reform the system and deal with these loans on a case by case basis. There is no reason to socialize these bad loans. The Democrats are going to demand we end buying all their constitutes houses by the time this is done.
I learned nothing new from the president. What’s going to stop credit contraction from hurting us in the future? More money? Oversight agencies? Give me a break.
Newt is on FOX News talking common sense. Go Newt!
How is having President Bush do this on prime time live T.V. supposed to also truly help the McCain/Palin ticket as well as truly help conservative candidates at every political level prior to November 4?
Yeah. Newt is really impressive on this issue. I wish McCain would listen to him. Newt is mortified. Fox News, Hannity was doing his conservative-side banter and Newt wasn’t even participating. You could tell not one of them was into politicing tonight. Like a bomb went off. This is all the sudden horrifying. I hope someone listens to Newt.
Best speech he’s made since 2001.
1. I give it a D-!
So what is Newt saying? Does he think Congress should pass it? Is he suggesting the President was wrong?
Riiiight...the "Mission Accomplished" one < /sarc >
I missed the speech. Where can I see the video? CNN is the only place that has it that I can find and they don’t have the whole thing from what I can determine. Thanks.
Avert Recession by going straight to Depression. Hoover tried to do it. FDR did it. Nixon and Carter managed to do it even though the inflation kept it looking milder than it was.
But we’ve been in a recession since the day Bush stepped into the Oval Office. At least that’s what the Rats and the MSM have been telling us.
It is called “throwing good money after bad.” They have a black hole there and all the money they throw into it will simply disappear to reappear as mega inflation.
Overall C. Bush tries hard but he has no stones to take on the 'Rats.
Bravo, really. And in under 13 mins. - astoundingly good compression of data, presented in a way a non-econ person might begin to comprehend. I thought the ideas expressed were quite visual, in nature, and therefore far more reachable to a large, diverse public. Of course, those with more understanding of econ (Mr. Krauthammer's comments) will think the speech a bit pedestrian; and so it goes. People who want to understand the problem, having little to comprehension of econ might begin to get a glimmer of truth and not spin, and I think the President delivered on that.
And I thank him for doing this, as he did this.
May God Bless you too, Mr. President! :)
Newt says this bill stinks. Vote NO. Bush is wrong.
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