Bush – The Economy Will Be Better Than Ever Before
Care2 Election Blog)On Wednesday, stocks were down, oil prices were up, and new home sales were the lowest they have been in 13 years. But to spite all of this bad economic news, President Bush told a group at a printing company in Virginia, that the economy will soon be “stronger than ever before.” Really? Is Bush the only person in the country who doesn’t understand that when Americans get their “stimulus” checks they are not going to go on wild spending sprees?From the Associated Press…
President Bush said Wednesday the sagging economy will “come out stronger than ever before” with the help of tax rebates from the recently enacted economic stimulus package.
“I fully recognize that people are concerned about our economy, but they must understand that this package has yet to fully kick in yet,” the president said.
He commented after a visit to a printing company, ColorCraft of Virginia, Inc.
The troubled economy is the No. 1 concern of voters in this presidential election year, surpassing the war in Iraq.
The administration says that although the economy has slowed, it will be revived when millions of Americans begin receiving tax rebate checks in the second week of May.
“A lot of folks are going to be getting a sizable check,” the president said. “I’m looking forward to that day and I know they are as well.”
What bloggers are saying.
This is from a post at Too Progressive…
President Bush visited Sterling, Virginia today to tour the ColorCraft printing company. After doing so he predicted happy days ahead (yeah right) thanks to the recently enacted economic stimulus package.
President Bush says the sagging economy will “come out stronger than ever before” with the help of rebates from the recently enacted economic stimulus package.
He said that beginning in the second week of May, “a lot of folks are going to be getting a sizable check. I’m looking forward to that day and I know they are as well.”
Actually, I’ll be using mine to pay down student loan debt, so I’m not sure how that helps the economy. I guess George Bush should have thought about that before he decided to cut financial aide funds in order to help student loan companies like Sallie Mae. In case you missed my earlier post, click here to find out when you can expect to see your check and where to go to calculate how much you can expect to receive.
From Whatever It is, I’m Against It…
Today Bush went to a printing company in Virginia to talk about the economic stimulus package, which he says will benefit the very company in whose plant he is speaking: “It will benefit from it because if they make — if Jim decides to purchase software or machinery, there is a tax incentive to encourage him to do so. He’s made the decision to do so, and his company will be encouraged to do so through the tax code.” You ever notice how if you say “do so” over and over, it loses all meaning?
From Desert Beacon…
The ‘stimulus package” AKA rebate checks are little more than a ‘feel good’ boost to get money flowing in the retail sector. What they won’t do is to alleviate the problems associated with negative or minute personal savings rates. After two years of negative savings rates (we’re spending more than we make) the Bureau of Economic Analysis was pleased to announce an overall personal savings rate in 2007 of an ‘under-whelming’ 0.5%. Back in 1984 Americans had an 11% personal savings rate.
What do you think? Does George Bush have any idea how far a couple hundred dollars goes these days? Do you think the economy is going to be bouncing right back once all the stimulus checks are handed out? What will you be doing with all your riches? Will you be buying a flat screen television?
