Bush: U.S. economy "not in a recession"

There is really not much to comment on with this ABC News story:

NEW ORLEANS (Reuters) - President George W. Bush on Tuesday said the U.S. economy was not in a recession but was experiencing a slowdown.

"We're not in a recession, we're in a slowdown," Bush said at a news conference at the end of a two-day summit with Canadian Prime Minister Stephen Harper and Mexican President Felipe Calderon.

Bush pointed out that the U.S. economy grew in the fourth quarter and that the statistics for the first quarter were not out yet. "But there's no question we're in a slowdown and people are concerned about it, obviously," he said.

Bush reiterated his view that taxes should not be increased, especially when the economy was showing sluggishness.

"The key is for Congress not to raise taxes during this period of time and (to) send a signal that they're not going to raise taxes," he said.

You can watch the YouTube video here:



I can't wait until Bush finally leaves office.

Then again, it probably shouldn't be surprising that President Bush doesn't believe the U.S. economy is in a recession. I mean, President Bush didn't even realize that the price of gas was predicted to be shooting up to $4.00 a gallon. From YouTube:



Excuse me Mr. President, but gas prices have already gone over $4.00 a gallon here in California.

Mr. Bubble Boy hard at work.