Bush: Backing off the economy

[Todd33]

http://www.reuters.com/newsArticle.jhtml?type=politicsNews&storyID=6038035

CRAWFORD, Texas (Reuters) - President Bush's economic advisers are warning that high energy prices have become a drag on the U.S. economy and not merely a threat to growth, chipping away at Bush's upbeat election-year projections and increasing pressure on him to act.

Treasury Secretary John Snow warned on Friday that, "We're seeing some slowing in the United States directly attributable to high energy prices."

Gregory Mankiw, chairman of Bush's Council of Economic Advisers, went farther on Sunday, warning in a letter published in The New York Times: "High energy prices are now a drag on the economy, as well as a strain on family budgets."

The warnings appeared to be part of a concerted shift in tone by Bush's top economic advisers, who for months have sought to minimize the risk of an economic slowdown in the run-up to the November presidential election.

Bush's economic advisers have long described high energy prices as a threat or a burden to the U.S. recovery, but they said the impact was mostly being felt abroad rather than at home.

"It has nothing to do with the election," an administration official said of the new warnings on energy prices. "It's a reaction to changes in the economy."

Other than instability in the mddle east and deficit spending, the economy isn't really under Bush's control. But I just like that a few months ago Bush's White House economic guy stood on the White House lawn and said: "this is the best economy I've seen in twenty years".

 

[Moonbeam]

It's the best one I've seen too. First time in ages I can bleed off my economic fears by cheering for a killing spree. It's been good for my sex life too. I got a Macho thang.....

 

[Kibbo]

Wait a minute,

Are you saying that politicians can change their positions on a topic when circumstances change?

Wow.

 

[catnap1972]

Originally posted by: Kibbo
Wait a minute,

Are you saying that politicians can change their positions on a topic when circumstances change?

Wow.

Nope...that's be a flip-flop, something George W Bush simply does not do.

Yessir!

 

[DealMonkey]

I'm sure any perceived weakness will be abruptly covered up by some macho posturing of some kind. Wait for it ... wait for it ...

 

[tallest1]

"It has nothing to do with the election," an administration official said of the new warnings on energy prices. "It's a reaction to changes in the economy."

The "everything good is Bush's doing, everything bad isn't his fault" approach is getting really old.....

 

[maddogchen]

Originally posted by: tallest1

"It has nothing to do with the election," an administration official said of the new warnings on energy prices. "It's a reaction to changes in the economy."

The "everything good is Bush's doing, everything bad isn't his fault" approach is getting really old.....

Politicians have been doing that for years...decades...centuries. Its soooooo old its tradition now

 

[CaptnKirk]

I don't think Bush is capable of a 'Flip-Flop',
it's more like a Flop, then another Flop.

He's been a Flop since he took office, actually a Double Flop.

 

[Moonbeam]

Originally posted by: CaptnKirk
I don't think Bush is capable of a 'Flip-Flop',
it's more like a Flop, then another Flop.

He's been a Flop since he took office, actually a Double Flop.

Pray he flops his reelection.

 

[catnap1972]

Originally posted by: Moonbeam

Originally posted by: CaptnKirk
I don't think Bush is capable of a 'Flip-Flop',
it's more like a Flop, then another Flop.

He's been a Flop since he took office, actually a Double Flop.

Pray he flops his reelection.

Apparently the Wal-Mart "Reelect Bush" campaign isn't working either...projected sales this month were downgraded to flat to "maybe" a 2% increase.

 

[cKGunslinger]

Originally posted by: tallest1

"It has nothing to do with the election," an administration official said of the new warnings on energy prices. "It's a reaction to changes in the economy."

The "everything good is Bush's doing, everything bad isn't his fault" approach is getting really old.....

LOL.. What about the "everything bad is the planned and executed doing of Bush and his inner circle of rich, elite, evil neocons and everything good is because they just haven't had time to get to that yet" approach? That seems to be a favorite one around here.