[Vision2020] The wisdom of George W. Bush

[Art Deco]

December 5th, 2008
Bush acknowledges recession
Posted: 12:30 PM ET
WASHINGTON (CNN) - President George W. Bush, reacting to the latest unemployment figures, acknowledged Friday that the U.S. economy is in a recession and stated that the downturn is a result "of severe problems in our housing, credit and financial markets, which have resulted in significant job losses."

Bush, speaking to reporters outside the Oval Office, said the administration is "focusing on the root causes of the economic downturn in order to return our economy to health." 

The economy shed 533,000 jobs in November - the largest monthly job loss since December 1974, according to a Labor Department report released Friday. For the year, the number of jobs lost now stands at 1.9 million.

The most urgent issue facing the economy, Bush noted, "is the problem in the credit markets. Businesses and consumers need access to credit at affordable rates to spend and invest."





You stupid ass, Bush!  

The most important problem facing the economy is the lack of jobs.  Without income, families cannot pay bills or obtain credit.  Without customers, namely families short on cash, businesses cannot pay bills or obtain credit.  Over a trillion dollars now given to banks but none to create jobs.

W.
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