Bush: Economy on the Upswing
The Associated Press
August 30, 2008
CBNNews.com - WASHINGTON - President Bush says Americans may have cause this Labor Day weekend to start worrying less about the nation's -- and their families' -- economic health.
In his weekly radio address, Bush says, "There have been some recent signs that our economy is beginning to improve."
Among the positive signs he references is a report Thursday that the overall economy, as measured by the gross domestic product, rose by 3.3 percent in the second quarter.
He says the 93-billion-dollar economic stimulus package "is having its intended effect."
The president says "many Americans who received tax rebates are spending them" and that businesses are taking advantage of tax incentives to purchase new equipment this year.
But he says he recognizes that "there are families across our country struggling to make ends meet."
Bush says he shares their concerns about the high price of gas and food and about the health of the nation's housing and job markets.
Monitoring Gustav
Meanwhile, President Bush is also checking in with Gulf Coast governors and federal officials to make sure his administration is doing all it can to be ready for Hurricane Gustav.
The president called the governors of Louisiana, Mississippi, Alabama and Texas early Saturday morning from the White House. All those states are in the potential path of the storm, which could reach the U.S. by early Tuesday.
Bush was getting regular updates from aides about the storm's path and the government's preparations.
White House spokesman Scott Stanzel says Bush told the governors they would have the full support of the federal government.
Copyright 2008 by The Associated Press. All Rights Reserved.
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