Bush Vows Quick Boost for Economy

Gives bipartisan lawmakers 3 weeks to forge accord

By Zach Samalin, Newser Staff

Posted Jan 22, 2008 6:47 PM CST

(Newser) – President Bush pushed his fiscal stimulus plan with lawmakers today and vowed the bipartisan group will find "common ground," the Washington Post reports. The economic boost—which he set at $150 billion—will not kick in overnight, he warned, but said congressional leaders must reach an accord in 3 weeks. That means checks would reach taxpayers and businesses in 5 or 6 months, analysts say.

Bush stayed mum on today's market fluctuations, but said he had "a very positive feeling" and a "confidence in the long-term strength" of the US economy—despite "some uncertainty that we're going to have to deal with." Bush remained open to negotiating the size of his proposed stimulus package, but said had one "red line": no new taxes.

President Bush, third from right,, leans in to listen to Senate Majority Leader Harry Reid of Nev. during his meeting with Congressional leaders to discuss the economy, Tuesday, Jan. 22, 2008, in the... (Associated Press)

President Bush, center, flanked by House Speaker Nancy Pelosi of Calif., left, and Senate Majority Leader Harry Reid of Nev., meets with Congressional leaders to discuss the economy, Tuesday, Jan. 22,... (Associated Press)

A TSX market sign indicates the final close, down nearly 605 points, in Toronto on Monday Jan. 21, 2008. Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor... (Associated Press)

President Bush with Treasury Secretary Henry Paulson addresses the media in the Roosevelt Room of the White House in Washington, Tuesday, Jan. 22, 2008. President Bush has formed an Advisory Council on... (Associated Press)

House Speaker Nancy Pelosi, right, and House Majority Leader Steny Hoyer, left, speak to reporters at the White House, Tuesday, Jan. 22, 2008, in Washington, after meeting with President Bush about the... (Associated Press)

President Bush, center, with Treasury Secretary Henry Paulson, left, and Charles Schwab, right, addresses the media in the Roosevelt Room of the White House in Washington, Tuesday, Jan. 22, 2008. President... (Associated Press)

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Bush Vows Quick Boost for Economy

Gives bipartisan lawmakers 3 weeks to forge accord

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Blame Obama for Botched Stimulus

President's hunger for bipartisan support led to disaster: Krugman

Pols Get Failing Grades on Economic Literacy

Critics of stimulus spending reveal lack of economic literacy

Dems Pitch $300B Plan to Jump-Start Economy

But it may have to wait until January

Pelosi, Dems Hijack Colombia Free-Trade Deal

They change House rules to avoid a vote, angering Bush

Bernanke: Adjustment Is Mostly Over

But admits economy could contract, possibility of recession

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OTHER STORIES ON OUR RADAR

Congress • subprime mortgages • recession • US economy • economic stimulus package • bipartisanship • George W. Bush

MOST POPULAR STORIES

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Blame Obama for Botched Stimulus

President's hunger for bipartisan support led to disaster: Krugman

Pols Get Failing Grades on Economic Literacy

Critics of stimulus spending reveal lack of economic literacy

Dems Pitch $300B Plan to Jump-Start Economy

But it may have to wait until January

Pelosi, Dems Hijack Colombia Free-Trade Deal

They change House rules to avoid a vote, angering Bush

Bernanke: Adjustment Is Mostly Over

But admits economy could contract, possibility of recession

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Newser By Users

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