bush view on economy

[godoftrading]

what else is new, do you actually think he would say the US is in a recession..


"drilling for oil in an Alaskan wildlife refuge"

This will probably NEVER HAPPEN, if they were worried about $50 oil just 2 years ago and didnt do anything about and worried about $100 oil what about $120 oil, oil could go to $150+ a barrel and I still think that nothing would be done to at least minimize the jump in prices....

Bush Says US Not in Recession; Dollar Slumps to New Low; Oil Hits New High
By Scott Stearns
New Orleans
22 April 2008


U.S. President George Bush says he is concerned about rising gasoline prices and the effects of higher energy costs on an already slowing economy. VOA White House Correspondent Scott Stearns reports, Mr. Bush made the comments in New Orleans, where he has been meeting with Mexican President Felipe Calderon and Canadian Prime Minister Stephen Harper.


President Bush says the U.S. economy is not in recession, but there is no doubt it is slowing down with higher food and health care costs depressing retail sales and a growing number of Americans struggling to make their house payments.

Record-high oil and gasoline prices are only making things worse. Speaking to reporters at the close of a summit with the leaders of Canada and Mexico, President Bush again called on Congress to approve a controversial plan that would allow drilling for oil in an Alaskan wildlife refuge.

"No question rising gasoline prices are like a tax on our working people," he said. "What is happening is that we have had an energy policy that neglected hydrocarbons in the United States for a long period of time, and now we are paying the price."

The president's comments came as the price of crude oil reached a new record above $119 a barrel and the U.S. dollar hit a record low against the euro. The U.S. housing market also continues to drag down the economy. Home sales and prices fell again last month with banks repossessing more and more homes as owners default on their mortgages.


Mexican President Calderon said the U.S. slowdown is being felt beyond its borders.

"I think that the steps taken so far by the fiscal tax monetary authorities in the United States and the Bush administration and in general have been appropriate. They have been the right measures, and we hope that they will very soon demonstrate effects so that we have a quick recovery among all our economies."

President Bush and opposition Democrats in Congress agreed on a temporary economic stimulus package of business incentives and tax rebates earlier this year. Mr. Bush said tax rebate checks should reach more than 130 million households next month, and that should begin to help the economy by the start of the third economic quarter in July.

He also called on Congress to make his record tax cuts permanent and criticized Democratic presidential candidates Hillary Clinton and Barack Obama for saying they would repeal some of those cuts for wealthier Americans.

"You got people out there campaigning, 'Well, we are just going to tax the rich.' You can't raise enough money to meet their spending appetites by taxing the so-called rich," he said. "Every one of those so-called tax-the-rich schemes ends up taxing the middle class families. And in a time of economic uncertainty, we need tax certainty. At a time of rising gasoline prices, we need to be sending a message to all Americans: We are not going to raise your taxes."

This was the last North American leaders' summit for President Bush, who will be leaving office before next year's meeting in Mexico.

[Texarkandy]

Originally Posted by godoftrading

Quoting George Bush;
.....

"You got people out there campaigning, 'Well, we are just going to tax the rich.' You can't raise enough money to meet their spending appetites by taxing the so-called rich," he said. "Every one of those so-called tax-the-rich schemes ends up taxing the middle class families. And in a time of economic uncertainty, we need tax certainty. At a time of rising gasoline prices, we need to be sending a message to all Americans: We are not going to raise your taxes."
........

That's a very responsible viewpoint if you ask me.

[newguy88]

Again America got what it deserves It voted for the guy 2X.

[FinanceDude]

Originally Posted by newguy888

Again America got what it deserves It voted for the guy 2X.

Yeah, I'm sure John Kerry would have done a fine job..........

[HFWR]

Originally Posted by FinanceDude

Yeah, I'm sure John Kerry would have done a fine job..........

Well, the bar is set pretty low...

[Notmuchlonger]

Originally Posted by FinanceDude

Yeah, I'm sure John Kerry would have done a fine job..........

This should be good.

[chinaco]

I saw another documentary that had a segment on the GWB administration. Showed him in a fairly negative light.

He flip-flopped on a campaign promise regarding EPA regs and direction after Chaney got together a group of oil company and energy company execs who were against it.

I haven't criticized GWB for a week. Feels good to vent about his total lack of competence and character.

Counting the months down until he and Cheney is out of the Whitehouse.

[FinanceDude]

Originally Posted by chinaco

I saw another documentary that had a segment on the GWB administration. Showed him in a fairly negative light.

He flip-flopped on a campaign promise regarding EPA regs and direction after Chaney got together a group of oil company and energy company execs who were against it.

I haven't criticized GWB for a week. Feels good to vent about his total lack of competence and character.

Counting the months down until he and Cheney is out of the Whitehouse.

I wonder what history will say 20 years from now about GWB?

[USK Coastie]

Rant On

At last being green is coming home to roost. GWB wanted to drill in ANWR when he took office. Every time a rational energy policy has been suggested in the last 30 years the "greenies" have gone nuts about it. "Big Oil will ruin the environment!!!!!"

You like your gas price, or electric price, or increased food costs? No, well look in the mirror. We as a society determined that we didn't need new refineries, more nuc power, a program to extract oil from shale in Colorado, or drilling for oil off our coasts. At every turn we have blocked substantial development of energy resources in this country. After all I don't want it in my back yard or spoiling my view of the ocean from my deck ( those wind turbines are ugly and kill birds)

Now that the portions of the world are rapidly developing ( China and India) we have to compete in the global market for energy because we have failed to develop our own, we have todays prices.

This country could be totally energy independant within 10 years if it wanted to. Maybe $5 - $8 a gallon gas will wake us up. I doubt it though, the greenies will just blame big oil and demand that they be nationalized. Oh yea and we'll need to make more biofuels even though a tank of E-85 in an SUV takes as much grain to make as grain to feed a man for a year.

Starving other humans because we don't want to drill for oil will be well received by the rest of the world.



Rant off

[FinanceDude]

Originally Posted by USK Coastie

Rant On

At last being green is coming home to roost. GWB wanted to drill in ANWR when he took office. Every time a rational energy policy has been suggested in the last 30 years the "greenies" have gone nuts about it. "Big Oil will ruin the environment!!!!!"

You like your gas price, or electric price, or increased food costs? No, well look in the mirror. We as a society determined that we didn't need new refineries, more nuc power, a program to extract oil from shale in Colorado, or drilling for oil off our coasts. At every turn we have blocked substantial development of energy resources in this country. After all I don't want it in my back yard or spoiling my view of the ocean from my deck ( those wind turbines are ugly and kill birds)

Now that the portions of the world are rapidly developing ( China and India) we have to compete in the global market for energy because we have failed to develop our own, we have todays prices.

This country could be totally energy independant within 10 years if it wanted to. Maybe $5 - $8 a gallon gas will wake us up. I doubt it though, the greenies will just blame big oil and demand that they be nationalized. Oh yea and we'll need to make more biofuels even though a tank of E-85 in an SUV takes as much grain to make as grain to feed a man for a year.

Starving other humans because we don't want to drill for oil will be well received by the rest of the world.



Rant off

Just to add, I find it quite amusing how "green" we believe Europe to be, yet they are throwing oil rigs into the North Sea faster than you can count. Something like 40-50% of all power in France comes from nuclear reactors.

America has lived on cheap oil forever, maybe NOW things will get done. Something tells me you could GET rid of the EPA, and gas would drop to $2.00 a gallon again.............

[FIREdreamer]

Originally Posted by FinanceDude

Something like 40-50% of all power in France comes from nuclear reactors.

It's more like 70-80% now...

[Milton]

Originally Posted by Texarkandy

That's a very responsible viewpoint if you ask me.

That would be the same "responsible viewpoint" that led to previous tax cuts and vastly increased spending, resulting in huge deficits and an enormous increase in the national debt.

It's (past) time to pay the piper, recession or no recession. "We have great risk that we're going to become a mediocre country that's in debt, and we're going to handcuff and put a millstone around the next two generations because we won't act like adults now": Sen. Tom Coburn (R-OK).

[HFWR]

Originally Posted by FinanceDude

America has lived on cheap oil forever, maybe NOW things will get done. Something tells me you could GET rid of the EPA, and gas would drop to $2.00 a gallon again.............

I note the smileys, but I wonder, do you think there's no need for environmental regulation?

[brewer12345]

Originally Posted by HFWR

I note the smileys, but I wonder, do you think there's no need for environmental regulation?

Not if it costs another $10 to fill his tank, aparently.

[Texarkandy]

Originally Posted by Milton

That would be the same "responsible viewpoint" that led to previous tax cuts and vastly increased spending, resulting in huge deficits and an enormous increase in the national debt.

Can't say I agre with vastly increased spending or debt - but that's not the viewpoint I was agreeing with -

Stable (or reduced) taxes is what I agree with which is what GWB was talking about

you are reading the "spending" part into my post (I suppose to further some political agenda of your own?)

Dems like to think we can ease the national debt problem by increasing taxes & continuing (& even increasing) federal spending. They fail to see the killer effect this has on econmic activity.

NeoCons seem to want to reduce taxe rates while continuing (and even increasing federal spending levels - with the idea that the tax reductions will actually increase the total revenue brought in to federal coffers under the reduced tax rates due to increases in economic activity brought about by the reduced tax rates. Letting the economy grow us out of debt - or something like that.

Personally I agree with neither - I'm for reducing federal spending (including for military/foreign policy adventures) & reducing taxes on everybody - the rich, the middle income, & business.

I'm not the greatest Bush fan but neither do I have a tin-foil hat that sends messages to my brain telling me that GWB is "Evil Incarnate" - but there are portions of the viewpoint expressed I agree with & believe to be responsible. That is that of the benefit of having a stable tax code & the benefit of reduced taxes. That is what my post was speaking to.

If you want to try to make something else out of it - that's on you.

[Milton]

I'm for reducing federal spending (including for military/foreign policy adventures) & reducing taxes on everybody - the rich, the middle income, & business.

Sadly, under the current political system significant spending reductions are simply not on the cards: regardless of who wins the coming election. Spending priorities may change somewhat, but spending itself is only going to increase.

So, increasing taxes is the only way to eliminate or at least reduce future deficits. Sadly, I doubt higher taxes are politically saleable either ... which means an ever-increasing debt.

Troubled times ahead!

[FinanceDude]

Originally Posted by HFWR

I note the smileys, but I wonder, do you think there's no need for environmental regulation?

Sure, there's a need for it, but tell me WHY the EPA has not allowed a NEW refinery to be built in the USA since 1970?? That seems a little much........

[HFWR]

Originally Posted by FinanceDude