UPDATE: The White House said this morning that President Bush will "not get into details" during his statement on the economy, but will rather "give principles to guide the discussion."
"The long-term prospects for this economy are sound," said White House spokesman Tony Fratto. "[Mr. Bush] thinks Americans should have confidence for the long-term prospects."
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Treasury Secretary Henry Paulson and Ed Lazear, chairman of the president's council of economic advisers, will brief reporters at the White House at 12:15.
President Bush makes a statement on an economic stimulus package at 11:50 a.m.
Mr. Paulson said on "The Today Show" this morning that the economic outlook is "not an emergency," but admitted there is an "urgent need" for government action.
— Jon Ward, White House correspondent, The Washington Times
Comments (1)
If the stimulus package is only focused on Democrat beneficiaries, it is going to be short term and used for Democrats election purposes. Their platform after the election will shift immediately to tax and spend. There better be long term business and tax incentives, not false sense of security entitlement programs. This isn't the dot com boom and there isn't a Y2K state of fear to subsidize, global warming is not an investment, it is a global governance welfare tax and there just isn't any explosive technological innovations on the horizon.
Posted by Larry Stone | January 19, 2008 8:30 AM