Bush speaks on the economy

AMERICAblog:

Bush just announced his plans to rescue the economy in a statement covered live on CNN. He wants a "growth package." Less than a month ago, in the December 29, 2007 radio address, Bush was singing the praises of the ecomony he's foisted upon us.

You have to wonder just how bad the Bush people think the economy is if they're willing to compromise on the centerpiece of Bush's presidency: The 2001 and 2003 tax cuts.

...

Bush never compromises. But, now, he's going to compromise on his tax cuts. In his remarks, Bush did say the tax cuts need to become permanent -- but apparently he's not going to hold up the stimulus package over them. That says a lot about the state of our economy.

Yeah, Bush is going to fix things. Things always improve when he sticks his head in...

Crooks and Liars:

So, how did you spend that 300.00 rebate check you got from long ago? I doubt individuals will give it back to the economy. The reason—Bills, bills, bills…. Anyway, all you economists please comment on the Bush economy speech…

Kevin Drum picks up on the tax cut point and says:

Bernanke is saying, as clearly as he can, that a temporary economic downturn shouldn’t be used as a cynical excuse to pass new long-term tax cuts or to make existing tax cuts permanent. Not only would that have no effect on the economy right now, but it would likely make future economic problems even more intractable.

And after he spoke, the market down 300 points.


Crooks and Liars:

Getting Us Out Of Iraq Can Get Us Out Of The Recession

Think of how much money we’d save…