Bush spoke at the Yak-A-Doo's restaurant inside a Holiday Inn. [View All]

:rofl: And relax, everyone, the economy's fine!



Bush says economy is sound

Bush Tries to Reassure Americans About Economy, Says Overall It's Sound

BEN FELLER
AP News

Dec 17, 2007 12:23 EST

President Bush worked to reassure Americans on Monday about the economy but said "there's definitely some storm clouds and concern" because of the nation's credit crunch and mortgage problems.

"But the underpinning is good," Bush told business and community leaders at a gathering of Rotary Club members.

"We've had a pretty good economic run," the president said in a speech intended to show he is aware of the public's edgy mood these days. Consumer confidence has eroded as turmoil in the housing and credit market have battered the economy.

Bush tried to position himself as an advocate for working families by taking aim at his favorite target: the Democratic Congress.

"The Congress cannot take economic vitality for granted," Bush said.

"The most negative thing Congress can do in the face of economic uncertainty is to raise taxes on the American people," Bush said.

The audience of roughly 80 people listened to Bush with respectful silence. Yet a line that normally gets him applause — "I'll veto any tax increase" — drew no reaction at all.

Bush chose to highlight positive economic news, such as job growth. "People are working; productivity is high," Bush said.

He acknowledged the nation's major economic woes — mainly the housing and credit crunch — in the context of explaining what his administration is doing to help.

"We can mitigate some of the issues," Bush said.

"I just want to let you know we've got a strategy. And Congress can help," the president said, citing a list of bills he's proposed to lawmakers.

Bush spoke at the Yak-A-Doo's restaurant inside a Holiday Inn.

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