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Bush sorry economic crisis has cut jobs, 401 (k)s
AP on Yahoo ^ | 12/1/08 | Deb Reichmann - ap

Posted on 12/01/2008 5:13:56 PM PST by NormsRevenge

WASHINGTON – President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession.

"I'm sorry it's happening, of course," Bush said in a wide-ranging interview with ABC's "World News," which was airing Monday. "Obviously I don't like the idea of people losing jobs, or being worried about their 401(k)s. On the other hand, the American people got to know that we will safeguard the system. I mean, we're in. And if we need to be in more, we will."

The U.S. economy fell into a recession in December 2007, the National Bureau of Economic Research reported on Monday. Many economists believe the current downturn will last until the middle of 2009 and will be the most severe slump since the 1981-82 recession.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Politics/Elections
KEYWORDS: 110th; 401k; bush; economiccrisis; economy; sorry
The buck stops in China.

Don't expect anyone in DC to be eating cold beans anytime soon in either party.

1 posted on 12/01/2008 5:13:56 PM PST by NormsRevenge
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To: NormsRevenge

Typical Bush. Regretting the condition of the economy is human & understandable, but didn’t he first consider how the media would spin his comment?


2 posted on 12/01/2008 5:16:30 PM PST by skeeter (Its Barry's fault)
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To: NormsRevenge

Of course. They steal our money, not the other way around. The American people deserve every bit of it. We sit like a bunch of hapless fools and do nothing about it. Some of us even demand more of it.


3 posted on 12/01/2008 5:17:33 PM PST by paul51 (11 September 2001 - Never forget)
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To: NormsRevenge

Saved from the Clinton recession...
Saved from the 9/11 economic disaster
Saved from further terrorist attacks...

I guess he is just about worthless now...


4 posted on 12/01/2008 5:19:34 PM PST by xcamel (The urge to save humanity is always a false front for the urge to rule it. - H. L. Mencken)
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To: NormsRevenge

Well thanks for securing the borders against walk-ins ... Oh wait -—


5 posted on 12/01/2008 5:19:40 PM PST by Tarpon (America's first principles, freedom, liberty, market economy and self-reliance will never fail.)
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To: NormsRevenge
Someone make Bush stop talking to the press. He's damaging Conservatives with every word. A recession is a normal part of the business cycle. Shut up and go away quietly.
6 posted on 12/01/2008 5:21:13 PM PST by VRWC For Truth (Throw the bums out who vote yes on the bail out)
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To: NormsRevenge

Won’t affect the government pensions and bennies of course. Bush was a huge mistake.


7 posted on 12/01/2008 5:26:47 PM PST by gotribe (obama just sucks - your wealth away)
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To: VRWC For Truth

Actually, Bush should share some blame. As the result of his cowardice and lack of leadership against Democrats, he has allowed Freddie and Fannie to effect rest of the economy


8 posted on 12/01/2008 5:31:45 PM PST by 4rcane
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To: NormsRevenge

After years of underwhelming the American people with his poor communication skills, Pres Bush has decided this is the right time for him to speak out. Amazing.

With your legacy in the toilet, its no time to keep flushing away.


9 posted on 12/01/2008 5:32:49 PM PST by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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To: VRWC For Truth
I agree. He should refuse these interviews. Compassion is all well and good, but the media will spin it every time they get a chance, and you cannot use it to govern with. President Bush needs to be guarding against what a new admin. might have in store for him and our country, and FAST. This is not the time to be interviewed. And very time he does, I can't watch for long, it literally is painful!
10 posted on 12/01/2008 6:36:01 PM PST by gidget7 (Duncan Hunter-Valley Forge Republican!)
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To: PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...

WASHINGTON – President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession.

Compassionate "conservatism" is nothing more than veiled Socialism.

The Money, Banking, and Financial Markets Ping List.

"Money, not morality, is the principle commerce of civilized nations."
—Thomas Jefferson

FR Keywords: moneylist, bankinglist, financelist

Please tag all relevant threads with the aforementioned keywords.

This can be a very high-volume ping list at times.

Ping list jointly pinged by rabscuttle385 and TigerLikesRooster.

To join the ping list:
FReepmail rabscuttle385 with the subject line add  moneylist.
(Stop getting pings by sending the subject line drop moneylist.)


11 posted on 12/02/2008 6:51:10 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: Uncle Ike; RSmithOpt; jiggyboy; 2banana; Travis McGee; OwenKellogg; 31R1O; Ken H; Gritty; ...
*Ping!*
12 posted on 12/02/2008 6:51:52 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: NormsRevenge

It’s all about the NWO and making paupers out of the baby boomers. The level of corruption with all levels of US goobermint is unprecedented.


13 posted on 12/02/2008 6:54:15 AM PST by RSmithOpt (Liberalism: Highway to Hell)
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To: NormsRevenge

Wow, outsourcing a ton of jobs wasn’t good policy? Whodathunkit?


14 posted on 12/02/2008 6:58:20 AM PST by mysterio
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To: NormsRevenge

the interview would have been a good time to slap barney frank, angelo mozilo, chris dodd, franklin raines, et al,

but as usual, the pubies do not know how to present an offense to the msm.

bend over, bush.


15 posted on 12/02/2008 7:03:15 AM PST by ken21 (people die and you never hear from them again.)
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To: rabscuttle385; PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; ...
WASHINGTON – President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession.

The interventionist approach is turning a hard downturn into a chronic downturn. By the time the American people finally figure out that govt can not create a perfect life for you it may well be too late.

I've never worried too much about Fed deficits as long as they were a small % of GDP and there were countries eager to buy up our bonds. However, if we start running Trillion dollar deficits it won't be that long before our bond rating tanks and then what?

16 posted on 12/02/2008 7:06:45 AM PST by wmfights (Elections have Consequences!)
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To: mysterio; NormsRevenge
Wow, outsourcing a ton of jobs wasn’t good policy? Whodathunkit?

What is business supposed to do?

If you have an unqualified workforce, that's not highly motivated and tax policy dramatically reduces your return on investment why would a business invest here?

If you want prosperity and the opportunity for a better life you need to lay the ground work with a solid educational system, tax policy that rewards success and a culture that prides individual responsibility and hard work. We have been going in the opposite direction for a lot of years.

17 posted on 12/02/2008 7:13:45 AM PST by wmfights (Elections have Consequences!)
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To: wmfights

When you ship out the good paying jobs, people can’t afford their mortgages. They can go on credit short term, but then that runs out, too. We shouldn’t have enacted free trade with any nation that has no pollution laws and no OSHA. It’s not a level playing field.


18 posted on 12/02/2008 7:18:28 AM PST by mysterio
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To: mysterio
When you ship out the good paying jobs,...

Why did the jobs leave?

Address those problems and jobs will come here.

It’s not a level playing field.

So?

19 posted on 12/02/2008 7:35:12 AM PST by wmfights (Elections have Consequences!)
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To: wmfights
If you want prosperity and the opportunity for a better life you need to lay the ground work with a solid educational system, tax policy that rewards success and a culture that prides individual responsibility and hard work. We have been going in the opposite direction for a lot of years.

All excellent points. And all due to get worse under a socialist administration.
20 posted on 12/02/2008 7:41:22 AM PST by CottonBall
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To: NormsRevenge
Did any Democrats apologize? Barney? Nancy?
21 posted on 12/02/2008 7:47:49 AM PST by Kid Shelleen (Barack the Messiah: Never in the field of US politics have so many waited so long for so little.)
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To: CottonBall
And all due to get worse under a socialist administration.

My thinking exactly!

I think our schools do such a bad job of teaching economics at the high school level (if it's done at all) that there is no understanding of how capital moves based on return. China is one destination right now, but long term I think it will be India that attracts the greatest investment. America is doing everything to chase away investment especially with our head long rush to "mommy govt" to solve everything.

The Pubs could have fought against this, but didn't and with the bailout have made themselves irrelevant.

22 posted on 12/02/2008 8:07:09 AM PST by wmfights (Elections have Consequences!)
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To: wmfights

The jobs left because you can pay someone a couple bucks an hour in Mexico, no benefits, and no worker safety laws. Want that here in the US so we can “compete?” I sure don’t.


23 posted on 12/02/2008 8:14:37 AM PST by mysterio
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To: wmfights; Travis McGee; politicket; TigerLikesRooster
However, if we start running Trillion dollar deficits it won't be that long before our bond rating tanks and then what?

The nightmare that is life on the Federal Plantation comes to and end.

24 posted on 12/02/2008 8:16:39 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: mysterio
The jobs left because you can pay someone a couple bucks an hour in Mexico, no benefits, and no worker safety laws.

Yeah, those evil big business types wanted their investment to be in a nation with incredible corruption, drug lords running communities, and a less than ideal infrastructure. Obviously, businesses moved there despite these problems. The problems they encountered here must have seemed worse.

25 posted on 12/02/2008 8:26:04 AM PST by wmfights (Elections have Consequences!)
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To: 4rcane
Actually, Bush should share some blame. As the result of his cowardice and lack of leadership against Democrats, he has allowed Freddie and Fannie to effect rest of the economy

Bush made a much larger mistake by not clamping down on Wall Street's credit default swap explosion. Derivatives were allowed to run wild. Most of the bailouts are for derivatives

26 posted on 12/02/2008 9:01:05 AM PST by dennisw (Never bet on Islam! ::::: Never bet on a false prophet!)
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To: RSmithOpt

If anyone caught Coast to Coast last night with George Snorey, he had Alex Jones on during the first hour. Folk may want to take a listen to that segment and keep an open-mind and look at what has gone down under the reign of Bush 1 Clinton and Bush 2 .. or not. The last couple months especially only add more fuel to the fire as to what lies ahead for this nation and FRee peoples everywhere.

The frog legs are already cooked, the body and head are warming nicely.


27 posted on 12/02/2008 9:55:10 AM PST by NormsRevenge (Semper Fi ... Godspeed)
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To: VRWC For Truth

This recession is not part of a normal business cycle. This was caused by lack of regulation, greed, lax loan standards and corruption. We’re living in a phantom economy, a bubble economy. The prosperity was false. You should check your facts before you tell someone to shut up. Bush makes conservatives look bad because he is not a fiscal conservative. Look at all the taxpayer money being thrown around. This mountain of debt is huge!


28 posted on 12/06/2008 12:04:27 PM PST by mustang buff
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