Bush doesn't mention subprime volatility
Paulson exudes calm; President attacks Democrats on taxes
By Greg Robb, MarketWatch
Last Update: 4:09 PM ET Aug 8, 2007
WASHINGTON (MarketWatch) -- President Bush and his top economic advisor did not seem outwardly concerned Wednesday with recent financial market volatility that stemmed from losses in the subprime mortgage markets.
In a brief speech on the economy shortly after noon, Bush didn't even mention the topic. Instead, Bush attacked the budget blueprint passed by Congressional Democrats and vowed to oppose any effort to raise taxes when lawmakers returned from their summer recess next month.
"I'm an optimistic person. I'll be less optimistic if Congress has its way and raises taxes on the American people," Bush said.
He said his first-term tax cuts have kept the economy growing. He criticized Congressional Democrats for failing to extend these cuts before they expire in 2010.
"If the majority of Congress gets its way, American families and small businesses will face a massive tax hike," Bush said.
more...
http://www.marketwatch.com/news/story/story.aspx?guid=%7B87C23AE0%2D1C30%2D4DD9%2DA8A0%2D535EF998C398%7D&siteid=rss