Posted on 12/15/2004 9:59:54 AM PST by SierraWasp
12:50pm 12/15/04
Bush: strong dollar "is the policy of my government" By Greg Robb
WASHINGTON (CBS.MW) -- President Bush said that a strong dollar is the "policy of my government." Bush said that he would work with Congress to lower the federal budget deficit, and this should help strengthen the currency. "We will do everything we can in the upcoming legislative session to send a signal to the markets that we will deal with our deficits, which hopefully will cause people to want to buy dollars," Bush told reporters at a joint press conference with Italian Prime Minister. Bush also noted that the Federal Reserve raised interest rates by a quarter of one percentage point on Tuesday, signaling "to the world markets that the chairman (Fed chief Alan Greenspan) is also aware of the relative currency valuations between the euro and the dollar," Bush said.
Talk is cheap George! Get out that veto pen!
Oh, don't be so cynical now... You know he'll take care of it!
I am telling you all! Watch out for his next State of the Union, he will talk about cutting the spending!
"President Bush said that a strong dollar is the "policy of my government.""
Gee, I could have sworn I read something once about "Of the people, by the people, and for the people".
I guess Bush thinks we're so dumb, we won't even realize that today's government is "Of the rich, by the elites, and for themselves".
Hillary in '08!
"Watch out for his next State of the Union, he will talk about cutting the spending!"
For the 4th straight year. Then he'll raise the debt limit again and send more welfare checks to illegals who are here to "do the work Americans won't" (and join gangs, commit crime, occupy prison cells, bankrupt hospitals and schools...)
Excellent...I hope he is able to use the currency value crisis to cut the budget...that would be really cool.
Not yesterday. They went up also.
Why is that? It's because the dollar is a more attractive currency as interest rates rise. In other words, it's strengthening.
I think the dollar has seen its low versus the euro and the yen. This will also cause the cost of oil to decline.
The public is ready for some serious budget cuts. Sure the interest groups will scream bloody murder but so what?
Yeah, right. It's even money which is less interested in reducing the deficit, Congress or the Administration.
All evidence to the contrary.
That must be a new policy introduced today, because nothing he's done or said up to this point would support such a statement.
Fat chance. Since when do drunken sailors worry about cutting spending?
Wanna get some wager going?
I think the dollar has seen its low versus the euro and the yen. This will also cause the cost of oil to decline."
Bingo!
Relatively few on this forum seem to understand the relationship between the current weak dollar, the correspondingly high crude oil prices (the effect), and Fed and Treasury policies and statements (the causes).
He must be nuts. A strong dollar will sink the economy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.