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Archive for Sunday, May 4, 2008

Bush defends views on the economy

May 4, 2008

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— President Bush, defending his record and his rhetoric, said Saturday that his administration has been "clear and candid" about the nation's economy.

"We saw the economic slowdown coming, we were up front about these concerns with the American people, and we've been taking decisive action," Bush said in his weekly radio address.

The president's comments appeared at least partly in response to a drumbeat of criticism from Democratic leaders, who say his view of the economy is rosy and unrealistic.

Bush sounded an upbeat tone following a modest uptick of economic news this week.

The economy grew in the first quarter of the year, but only by a meager 0.6 percent. Yet it was not the contraction that some analysts feared. Employers slashed fewer jobs in April than they had in earlier months. The unemployment rate in April also fell slightly.

"No temporary setbacks can hold back the most powerful force in our economy - the ingenuity of the American people," Bush said. "Because of your hard work and dedication, I am confident that we will weather this rough period and emerge stronger than ever."

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