President Bush Optimistic About Economic Recovery
By Dan Keane
23:12, May 3rd 2008
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President Bush Optimistic About Economic Recovery

President Bush in his weekly radio address today that apparently sought to address harsh criticism from Democratic leaders of his handling of the economic crisis. The President said that he is confident the U.S. can overcome the rough times and emerge "stronger than ever."

The patriotic address, taped on Friday, also profited from slightly better financial news: the economy grew in the first quarter of the year, if only by .6 percent, there were fewer job losses and the employment rate 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," President Bush in his weekly radio address today.

He also alleged that his administration was been upfront and candid about the troubles affecting the United States economy. Bush also highlighted the $117 billion in tax rebates coming to 130 million households.

Also, President George W. Bush asked the Congress on Thursday to approve $770 million to alleviate the food crisis due to increasing food prices around the world. During a surprise mid-afternoon appearance at the White House, Bush asked lawmakers to approve the additional funds due to help solving the world food crisis.

The efforts of the Bush administration are aimed at reducing the 45 percent increase in world food prices in the past nine months, which made it difficult for millions of people to achieve rice and wheat. The price of eggs also rose with nearly 30 percent in the past year, while prices for milk and flour jumped more than 13 percent, according to the U.S. Department of Labor.



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