Bush Economic Policies Failing America's Families
01/07/2008
Working Americans Struggling to Make Ends Meet – Families Need a New Direction
PRESIDENT BUSH:
“And [my economic] plan worked. If you think about where we were coming out of 2001 and where we are today, you can’t help but say the plan worked; cutting taxes helped stimulate economic growth.” [12/17/07]
WHITE HOUSE SPOKESPERSON TONY FRATTO:
“I don't know of anyone predicting a recession.” [1/7/08]
COMMERCE SECRETARY CARLOS M. GUTIERREZ:
“Whenever someone loses a job, it is tough on them and their family. So we are not complacent and firmly believe it’s important that we continue to promote pro-growth policies such as making the tax cuts permanent...” [1/4/08]
FROM THE EXPERTS
Martin Feldstein, Harvard University economist:
“We are now talking about more likely than not [for a recession]…I have been saying about 50 percent. This now pushes it up a bit above that.” [1/7/08]
Mark Zandi, chief economist of Moody’s Economy.com:
“This is unambiguously negative…The economy is on the edge of recession, if we’re not already engulfed in one.” [1/5/08]
Neal Soss, chief economist at Credit Suisse Group, Inc.:
“There's nothing heartwarming about this report…It confirms what economists have been worried about, which is a broad-based economic slowdown.” [1/5/08]
Russ Koesterich, senior fund manager at Barclays Global Investors: “The odds of a recession have gone up dramatically.” [1/5/08]
Nigel Gault, economist at Global Insight:
“If there’s going to be a recession, it’s entirely possible that we are in it — or just beginning it now.” [1/4/07]
Victor Shum, energy analyst with Purvin & Gertz:
“Many economists in the U.S. have talked about the potential of the U.S. getting into a recession…This latest government report ... has added to the concerns about the economy.” [1/7/08]