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Bush says country not headed into a recession

Bush says country not headed into a recession

President George W. Bush said Thursday that the United States is not headed into a recession and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts.
"We've acted robustly," he said.
"We'll see the effects of this pro-growth package," Bush told reporters at a White House news conference. "I know there's a lot of, here in Washington people are trying to _ stimulus package two and all that stuff. Why don't we let stimulus package one, which seemed like a good idea at the time, have a chance to kick in?"
Bush's view of the economy was decidely rosier than that of many economists, who say the U.S. is nearing recession territory or may already be there.
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 (euro198) to $1,200 (euro794) to millions of people and give tax incentives to businesses.