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Economy is the watch word

2008-01-28 19:13:36 (GMT) (Caymanmama.com - Business News)



With the latest emerging situation in US economy, President Bush’s Monday’s State of the Union address will focus on exclusive issues of economical growth and its revival. In the Presidential radio address of Saturday, Bush said- “…I believe that with swift action, we can give our economy the boost it needs to continue expanding and creating new jobs for our citizens.” He also reiterated his hope that the plan will be enacted swiftly.”

However, given the last year of President Bush in the presidential office, it seems that Bush is unlikely to propose a new economical proposal in his Monday Presidential address. However, last year he called forth new ways of buying health insurance from government taxes and asked Congress to devise plans so as to reduce the consumption of Gasoline by 20% over the 10 years.

According to the president of Tax Foundation, Scott Hodge-”I think there will be a pretty significant emphasis on what they’re doing in the immediate term to shore up the economy.” Scott Hodge continued that-”There’s so much anxiety in the markets and in business. I think he’d want to assure people they’ve taken the appropriate actions.”

It is expected that Bush will call for a quick package for $150 billion economic stimulus package between Treasury Secretary Henry Paulson and House Leaders. It seems that the stimulus package might face touch resistance in Senate as many Democratic senators have given up party’s agenda of extending unemployment benefits along with business tax and consumer rebates. On Monday’s address, Bush takes various issues besides the stimulus package.



NewsReporter · Filed Under Business 

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