Republicans Shudder as Economic Slowdown Adds to 2008 Concerns

Oct. 9 (Bloomberg) -- Republicans heading into the 2008 election are burdened by an unpopular war, President George W. Bush's low approval ratings and a splintering base. The outlook could hardly be worse -- unless there's a recession.

As the deepest housing slump in 16 years and higher credit costs play out against a backdrop of a steep rise in oil prices, economists including former Federal Reserve Chairman Alan Greenspan and ex-Treasury Secretary Lawrence Summers are raising recession warnings.

Just a lingering slowdown would undercut one of the few topics Republican politicians can still boast about to voters -- an almost six-year economic expansion. That in turn might compound Republicans' electoral woes, turning a difficult election into a disastrous one.

The party should be ``extremely'' concerned about the possibility of a recession, said Tony Fabrizio, a pollster for Republican candidates. While ``a lot of Republicans like to believe that if we could just take the war off the table, we'd be OK,'' that isn't true, he said.

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http://www.bloomberg.com/apps/news?pid=20601070&sid=alwfSb5sF5t4&refer=politics

talking about????