Retailers' Roundtable Discussion With Bush Economic Team Highlights Imperative for Bush Economic Stimulus Package

Chicago, IL - Retailers today joined U.S. Secretary of Commerce Don Evans and two of President Bush's chief economic advisors, Dr. Lawrence Lindsey and Dr. Glenn Hubbard, at a roundtable discussion in Chicago that highlighted the urgent need for President Bush's economic stimulus package.

About 200 businessmen and women representing small and large retail companies joined the Bush Economic Team this morning to share their perspective on the economy and what's needed to grow it. The comments and concerns of retailers at the roundtable prompted Evans, Lindsey and Hubbard to reiterate calls for the Senate to act promptly on the President's economic stimulus package, which includes help for workers who have been laid off and tax cuts to stimulate job creation and economic growth.

"The President has moved aggressively in response to our economic slowdown. A little over two months ago he proposed programs to protect unemployed workers and create new jobs. One American out of work is one too many," said Evans. "The President showed leadership with a plan for action, only for the Senate leadership to go on vacation without taking action." The U.S. House of Representatives passed a stimulus bill two weeks ago. The U.S. Senate left Washington last week for a 10-day recess for Thanksgiving without acting on a stimulus bill.

"The public knows how to spend their money better than the federal government does," said Lindsey. "We prefer paychecks to unemployment checks."

The Bush Administration Economic team pointed out that government only creates the right environment for growth. They emphasized that America's entrepreneurs, farmers, businesspeople, ranchers and workers are "the greatness of our economy." They, not government, create the wealth in this country, Evans said.

"This should not be an occasion to expand the government," said Hubbard. "We need priorities and leadership. Congress must act quickly and put a bill on the President's desk that will put Americans back to work."

Today's "America Works" roundtable in Chicago is a continuation of private sector outreach done by Treasury Secretary O'Neill, Commerce Secretary Evans and other leaders in the Bush Administration in the wake of the September 11th attacks. Future roundtables will explore economic conditions in other parts of the country and other sectors of the economy.

Participants in the Roundtable from left - Dr. Edward Snyder, Dean of the University of Chicago Graduate School of Business; Gordon Segal, CEO, Crate and Barrel; Tracy Mullins, CEO, National Retail Federation; Dr. Lawrence Lindsey, Assistant to the President for Economic Policy; John Spencer, General Manager, Sears Roebuck Store; Secretary of Commerce Don Evans; Alan Lacy, CEO, Sears, Roebuck and Co.; Dr. Glen Hubbard, Chairman, President's Council of Economic Advisors; Perry DiGirolamo, Owner, Chocolateer Confections; Alan McCollough, CEO, Circuit City

Members of the President's Economic Team and business leaders meet - pictured from left - Tracy Mullins, CEO, National Retail Federation; Dr. Lawrence Lindsey, Assistant to the President for Economic Policy; John Spencer, General Manager, Sears Roebuck Store; Secretary of Commerce Don Evans; Alan Lacy, CEO, Sears, Roebuck and Co.; Dr. Glen Hubbard, Chairman, President's Council of Economic Advisors; Perry DiGirolamo, Owner, Chocolateer Confections