George W.'s Six-Point Plan for Economic Recovery
George W. hits the road to promote his economic recovery plan as the White House begins to panic with no end in sight in Iraq (or remember, Afghanistan?!) and George W.'s re-election bid coming up rapidly. According to this New York Times story (registration required)
Mr. Bush said the economy was showing signs of promise, and he cited near-record levels of home ownership and greater investor confidence in the stock market, though he said too many people were still looking for work. He laid the blame for the persistent joblessness on the Sept. 11 attacks and the recession that began in early 2001, and said his three enacted tax cuts, totaling some $2 trillion over a decade, had saved the United States from even more job losses. So far, some 2.7 million jobs have disappeared since Mr. Bush became president.
"Had we not taken action, this economy would have been in a deeper recession," Mr. Bush said. "It would have been longer, and as many as 1.5 million Americans who went to work this morning would have been out of a job."
To back up Mr. Bush's assertion, White House officials cited a Treasury Department analysis but provided no details.