Bush Denies Reality: “We’re Not Headed into a Recession”

Jon Ward
The Washington Times
February 28, 2008

Bush, at odds with dozens of economic experts, calls the recession, threatening to fall into a full-blown depression, a "slowdown" and then hypes his "$157 billion financial stimulus package" that will exacerbate the deficit.

WASHINGTON — President Bush today continued to insist that the U.S. economy is not headed for a recession, called new Cuban leader Raul Castro a “tyrant,” and expressed uncertainty about whether Russian president Vladimir Putin will truly hand over power this weekend, during a wide-ranging press conference at the White House.

Mr. Bush’s first press conference of 2008 touched on many topics but questions repeatedly brought the focus back to the economy.

“I don’t think we’re headed to a recession. There’s no question we’re in a slowdown,” Mr. Bush said, when asked about reports today of a slowing in the growth of gross domestic product.

He gave new details about rebate checks that will go out to taxpayers as part of the recently passed $157 billion financial stimulus package. Checks of $300 to $1,200 will start going out in the second week of May, he said.

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