Bush sorry economic crisis has cut jobs, 401 (k)s

AP on Yahoo ^ | 12/1/08 | Deb Reichmann - ap

[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.

[NormsRevenge]

The buck stops in China.

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

[skeeter]

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

[paul51]

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.

[xcamel]

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...

[Tarpon]

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

[VRWC For Truth]

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.

[gotribe]

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

[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

[Reagan Man]

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.

[gidget7]

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!

[rabscuttle385]

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.)

[rabscuttle385]

*Ping!*

[RSmithOpt]

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.

[mysterio]

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

[ken21]

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.

[wmfights]

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?

[wmfights]

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.

[mysterio]

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.

[wmfights]

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?

[CottonBall]

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.