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Bush Economic Policies Failing America's Families

Working Americans Struggling to Make Ends Meet - Families Need a New Direction

PRESIDENT BUSH:
'And [my economic] plan worked. If you think about where we were coming out of 2001 and where we are today, you can't help but say the plan worked; cutting taxes helped stimulate economic growth.' [12/17/07]

WHITE HOUSE SPOKESPERSON TONY FRATTO:
'I don't know of anyone predicting a recession.' [1/7/08]

COMMERCE SECRETARY CARLOS M. GUTIERREZ:
'Whenever someone loses a job, it is tough on them and their family. So we are not complacent and firmly believe it's important that we continue to promote pro-growth policies such as making the tax cuts permanent...' [1/4/08]

FROM THE EXPERTS

Martin Feldstein, Harvard University economist:
'We are now talking about more likely than not [for a recession]...I have been saying about 50 percent. This now pushes it up a bit above that.'  [1/7/08]

Mark Zandi, chief economist of Moody's Economy.com:
'This is unambiguously negative...The economy is on the edge of recession, if we're not already engulfed in one.' [1/5/08]

Neal Soss, chief economist at Credit Suisse Group, Inc.:
'There's nothing heartwarming about this report...It confirms what economists have been worried about, which is a broad-based economic slowdown.' [1/5/08]

Russ Koesterich, senior fund manager at Barclays Global Investors: 'The odds of a recession have gone up dramatically.' [1/5/08]

Nigel Gault, economist at Global Insight:
'If there's going to be a recession, it's entirely possible that we are in it -- or just beginning it now.' [1/4/07]

Victor Shum, energy analyst with Purvin & Gertz:
'Many economists in the U.S. have talked about the potential of the U.S. getting into a recession...This latest government report ... has added to the concerns about the economy.' [1/7/08]