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Politics : Welcome to Slider's Dugout
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From: Kpain3/7/2008 3:31:51 PM
   of 50458
 
President Bush is begging America to spend, spend, spend.
Desperate???
We live in interesting times.
Maybe we just need some sort of government debit card that can only be used within a month or it expires. It has to be used or "loosed."

By Barbara Hagenbaugh, USA TODAY
WASHINGTON — Employers cut jobs for a second month in February while the unemployment rate fell as more people quit looking for work in the weakening job market, the government said Friday in a report that led to further calls of a 2008 recession.

President Bush, responding to the report, said "it's clear our economy has slowed, " and he tried to reassure an anxious public that the long-term outlook is good.He also gently urged taxpayers to spend the rebate checks due to them within months from a stimulus package.

Earlier, his top economic adviser, Edward Lazear, acknowledged that it is possible the economy shrank in the current January-to-March quarter. Lazear's comment is the most pessimistic assessment heard out of the White House.

Shortly before the jobs report was released, the Federal Reserve underscored its concern for the economy by saying it will pump more cash into financial markets to try to ease credit.

The Fed said it will raise its planned March 10 and March 24 auctions to $50 billion each, from $30 billion it had previously announced. The auctions serve as short-term loans to get banks the cash they need to keep lending.
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