Bush's view of the economy was decidedly rosier than that of many economists, who say the country is nearing recession territory or may already be there. "I'm concerned about the economy," he said. "I don't think we're headed to recession. But no question, we're in a slowdown."
The centerpiece of government efforts to brace the wobbly economy is a package Congress passed and Bush signed last month. It will rush rebates ranging from $300 to $1,200 to millions of people and give tax incentives to businesses.
On one issue particularly worrisome to American consumers, there are indications that paying $4 for a gallon of gasoline is not out of the question once the summer driving season arrives. Asked about that, Bush said "That's interesting. I hadn't heard that. ... I know it's high now." Read more..
NO, WE ARE NOT HEADING TOWARDS A RECESSION..WE'RE ALREADY IN ONE! HOW MANY MILLIONS OF JOBS HAVE BEEN SENT OVERSEAS, HOW MANY HOMES AND LIVES HAVE BEEN LOST SINCE BUSH GOT INTO OFFICE AND YET THE OIL COMPANIES,PHARMACEUTICAL COMPANIES, AND INVESTMENT FIRMS HAVE BEEN WALKING AWAY WITH RECORD PROFITS, BANKS ARE FALLING AND WANT A BAILOUT FROM NON OTHER THAN THE GOVERNMENT, OR THEY'LL PASS IT OFF TO THE CONSUMER. THESE PEOPLE NEED TO BE HELD ACCOUNTABLE OR SENT TO IRAQ TO LIVE IN THEIR BIG, BEAUTIFUL, VATICAN SIZE EMBASSY.