Recession? What Recession?
Posted on Mar 7, 2008
President George W. Bush has often invited comparisons to Mad magazine antihero Alfred E. Neuman, and his latest comments regarding a potential recession in the U.S. aren’t helping him shake the “What, me worry?” tag line anytime soon.
Mr Bush said he hoped consumer spending would “spur job creation”.
The Labor Department figures show the effect the housing and lending crisis is having on US firms, and follows 22,000 job cuts in January.
Now Mr Bush hopes his $152bn stimulus package will give the economy momentum.
Mr Bush is clearly worried enough about the state of his country’s economy to be making statements to the media about it, the BBC’s Matthew Price reports from New York.
But many in America may be concluding that any economic help may come too late to have any real impact on what looks, every day, like an increasingly desperate situation, our correspondent adds.
AP photo / Haraz N. Ghankari
President Bush talks economics at the White House on Friday.