Bushisms

WASHINGTON - President Bush said Thursday that the country's wealthy are not recession-bound and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts. "We acted robustly," he said, referencing Merriam-Websters second definition of that word. He then noted that rather than using the accepted macroeconomic definition of recession: a slowdown in a country's gross domestic product, or negative real economic growth, for two or more successive quarters of a year, he was relying only on the dictionary definition "a period of reduced economic activity."

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"We have not yet reached a 'period'" he remarked, noting that it has been more like a smidgeon, glimmer, dash or spot of reduced economic activity. "There's no sure-fire way to know we are in a recession before January 09, I think," he added.

"We'll see the effects of this pro-growth package," Bush told reporters at a White House news conference, referencing himself and his major contributors with his pronoun. He acknowledged that some lawmakers, are already talking about a second stimulus package, aimed at the middle-class. "Why don't we let stimulus package 1, which seemed like a good idea at the time, have a chance to kick in?" Bush's eloquent comments were of course evocative of FDR's first fireside chat after his court packing plan, when, using brevity as the essence of wit, he reminded the American people "it seemed like a good idea at the time."

Bush's view of the economy was decidedly rosier than that of many economists, who say the country is nearing recession territory or may already be there. The difference, said White House spokeswoman Dana Perino is that "the President is drawing a distinction between the haves and the have-mores." "I'm concerned about the economy," he said, subtextually indicating that he is concerned about his own financial well being. "I don't think we're headed to recession. But no question, we're in a slowdown." His first we was meant to represent families with an income in excess of $200,000 per year, and the second we was intended to represent lazy, non-constituent, and probably black families.

The centerpiece of government efforts to brace the wobbly economy is a package Congress passed and Bush signed last month. It will rush rebates ranging from $300 to $1,200 to millions of people and give tax incentives to businesses. That money can be used by most consumers to offset the higher price of gas, or to buy a Nintendo Wii. There are indications that paying $4 for a gallon of gasoline is not out of the question once the summer driving season arrives. Asked about that, Bush said "That's interesting. I hadn't heard that. ... I know it's like $6 now, right?"

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Bush criticized the Democratic presidential candidates over their attempts to disassociate themselves from the North American Free Trade Agreement, a free-trade pact between the U.S., Canada and Mexico. Bush said the deal is contributing to more and better-paying jobs for Americans - outside the US.

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Following his news conference, Bush expressed confidence in the nation's ability to weather the economic downturn. "We'll make it through this period just like we made it through other periods of uncertainty during my presidency," Bush said, suggesting our long national nightmare is just beginning.