Bush economic plan fails to reassure as world stocks plunge

Source: afp

Bush economic plan fails to reassure as world stocks plunge

Tue Jan 22, 2:58 AM ET

NEW YORK (AFP) - Amid fears of a US recession, President George W. Bush's attempt to revive the world's biggest economy was greeted with heavy skepticism on Tuesday as markets tumbled across the globe.


Bush's announcement Friday of an economic stimulus package worth around 140 billion dollars failed to reassure jittery investors as housing woes, bad news from major banks and a flagging dollar rattled the US economy.

Financial analysts were cold to the president's plan and the New York Stock Exchange on Friday wrapped up its worst week in five years by hitting a new low, as fears mounted over a potential US recession.

Read more: http://news.yahoo.com/s/afp/20080122/pl_afp/useconomystocks_080122075812;_ylt=AnfLZgpEC.GjNdWscUj3jOas0NUE

more debt on top of his trillions in old debt. The hole is too deep to dig out from under.

we need jobs.

I haven't had a chance to fully review his plan, and all I've heard about is the rebates. Is it true that he put forth a stimulus package with NO jobs? Seriously? How is that a stimulus plan?

:sarcasm:

I didn't see or hear anything about job stimulus in his plan. I've been out of work for 4 years and I really didn't mind because I was a widow with other resources and have a son to raise. I've been going to college (one class at a time, so it's paid for by me) and will probably never graduate. I've taken family members in and supported them. My sister who has been with me for 8 years since her husband dumped her when she could no longer support him in the fashion he had become accustomed to, is 49 and has been unemployed on and off (mostly off) for the majority of those years. It costs me at least 100.00 a week for gasoline just to get my son back and forth to school. We don't go anywhere or eat out.I only buy sale items at the grocery store and grow a lot of our own vegetables, but I still depleted approx 20,000 of my savings the past year just trying to keep up with expenses and make ends meet. My son is almost grown (14) and I'm looking to go back to work. There is nothing available in my profession, unless of course I'm willing to relocate to Mubai, India. I could go on but what would be the point.. there's so many worse off than us. I just wish some of the wealth would trickle down on us for a change.

After all, businesses are hurting. As far as I can tell, his hope is that we'll each spend our rebate at the mall.

they want them to spend those rebate checks at Wal*Mart. :puke: "Always low prices. Always". :banghead:

:sarcasm:

entire world population into account, Bush's approval rating is about 3 percent. No, I did not forget Poland.

Bush has NEVER fooled the Rest of the World on Anything

So an Economic Plan coming from this clown wouldn't either.

We are heading for another Republican Great Depression only this one will be worse than the last one.

Prof. Ravi Batra on Thom Hartman show last week "....recession 2008, depression 2009...."

Aren't those oxymorons?

now that is very sad, the world is not buying *'s BS never did and never will. This man needs to be committed to a psychiatric facility make it a locked facility.