http://www.reuters.com/article/topNews/idU...eedName=topNewsReutersBush sees serious signs U.S. economy is weakeningFri Feb 1, 2008 12:12pm EST
KANSAS CITY, Missouri (Reuters) - U.S. President George W. Bush on Friday said there were troubling signs that the economy is weakening and urged Congress to move on a stimulus package to help prop up the economy, which has been hit hard by a housing slump and credit crisis.
"There are certainly some troubling signs, serious signs that the economy is weakening and we've gotta do something about it," the President said.
"The sooner this package makes it to my desk... the better off our economy is going to be," he said.
Even with some troubling signs, including the latest government data showing a falloff in employment, Bush said there are some strong points to the economy and said that encouraging businesses to invest is a key part of the package.
(Reporting By Joanne Morrison; Editing by James Dalgleish)
NOTE: With the average package being $600.00 for singles and $1200.00 for those with two children will it really help? In my opinion the answer is no. The lower income families that do spend will buy products made in China. The money for the stimulus will be borrowed from China...so who is the real beneficitory of the package. Many poor and elderly will not get the refunds as well as many of the poor but in what is now being put forth by the Sentate many illegals will. This money will be sent home to their home country so again I ask who will benefit...not he American economy.