| # | Author | Message |
1
| ecdc
Tue 4/22/2008 1:07p | http://money.cnn.com/2008/04/2...?cnn=yes
Of course, that's only because Bush can't spell recession; "slowdown" is much easier. |
2
| SingleParkPassholder
Tue 4/22/2008 1:11p | Bush didn't know about $4 gas, either. Bush is an idiot. |
3
| alexbook
Tue 4/22/2008 1:23p | He's not wrong. He called it a "slowdown." "Recession" has a technical meaning that economists and government officials use, and we may not actually be in one.
It's easy to bash this President for so many things, but he's not wrong about this one, technically.
>>The official definition of recession is when GDP growth is negative for two consecutive quarters or more. However, you can feel like you are in a recession before it has officially started because it is usually preceded by several quarters of slowing but positive growth.<<
http://useconomy.about.com/od/...sion.htm
>>"We're not in a recession, we're in a slowdown," Bush said at a news conference[...].
Bush pointed out that the U.S. economy grew in the fourth quarter and that the statistics for the first quarter were not out yet. "But there's no question we're in a slowdown and people are concerned about it, obviously," he said.<<
http://www.reuters.com/article...20080422 |
4
| friendofdd
Tue 4/22/2008 1:31p | I agree with you Alex.
We may meet the criteria soon, but until we do, it is not a recession. |
5
| wahooskipper
Tue 4/22/2008 1:31p | I agree with Alex. Economists can't agree on the "recession" question so I don't think Bush is automatically wrong. He may not be right...but he isn't necessarily wrong.
I have yet to pay $4 a gallon for gas. I'm not about to say it won't happen, but I haven't been close to that yet. |
6
| alexbook
Tue 4/22/2008 1:37p | Just when I think the President may not be as bad I usually think he is, this happens (at the same press conference):
>>President George W. Bush on Tuesday said he was concerned about record-high crude oil and gasoline prices, and said the United States needs to tap an Alaskan wildlife refuge to boost supply.<<
http://www.reuters.com/article...20080422
Ugh. |
7
| plpeters70
Tue 4/22/2008 2:03p | >>said the United States needs to tap an Alaskan wildlife refuge to boost supply.<<
Typical short-term thinking. Never mind that we'll destroy the Alaskan environment and the oil there will only satisfy demand for a short time, but hey - let's push off a real solution to our energy crisis for another 20 years. |
8
| utahjosh
Tue 4/22/2008 2:04p | Tap it! This earth was made for Man...sure, we need to protect our earth, but right now Mankind, and our country, needs more sources of oil. |
9
| utahjosh
Tue 4/22/2008 2:07p | It IS short term thinking. We need short term solutions.
We also need long term thinking and solutions. |
10
| utahjosh
Tue 4/22/2008 2:08p | The whole Alaskan environment is GIGANTIC....it is HUGE! A few spots to pump some oil won't destroy it. |
