Memo to Pelosi: Another stimulus package and another bandaid are not going to solve the bad economy in this country.
WASHINGTON (Reuters) - House Speaker Nancy Pelosi on Tuesday called for a second economic stimulus package and said President George W. Bush is "in denial" about the U.S.
economy, drawing a sharp White House response.
economy, drawing a sharp White House response.
Tax rebate checks are in the mail to millions of Americans under a $152 billion economic stimulus package passed by Congress earlier this year and signed into law by Bush.
"It's clear there is a need for a second stimulus," Pelosi, a California Democrat, told reporters at a news conference.
"The president has for a long time been in denial on the state of the economy," she said.
Bush, backed by fellow Republicans in Congress, has indicated he wants to wait and see how the first stimulus package works before looking at another one.
Bush, backed by fellow Republicans in Congress, has indicated he wants to wait and see how the first stimulus package works before looking at another one.
"I don't think that we have that amount of time," Pelosi said. "There are indications that this downturn is steeper than it was when we created the first stimulus package."
The Bush administration defended its approach. "We have an economic stimulus package in place, and coupled with the response from the Federal Reserve, we expect to see a return to growth in the U.S. economy as the year progresses," said White House spokesman Tony Fratto.
Continued...
More on the story.
More on the story.
1 comment:
It was a good run but it's over for Pelosi. She did a great deal of talking but showed not action. She got her chance now it's time for someone else. She allowed a President that committed Treason many many times to stay in office. Republicans wanted to impeach Clinton for an affair, while Bush has had over 4500 soldiers killed based on lies, 43000 soldiers mentally unfit, 10 Trillion dollar debt and she allows continued blank checks for the President. Her idea of praying to God and praying for the President is bull. Satan is running the White House and she knows it. There has been open corruption under her watch and she does nothing. She is a poor example for the history books as the first female Speaker of the House, we can do better much better.
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