Bush is NOT lying! If we are already IN a recession, then we are not recession-BOUND, are we? You people need to listen more closely.
Between George and Ben we can't win. Neither of them seem to know what to do about the economy in my opinion. I vote C in that subject line. Ben states he sees inflation coming down. Bush won't admit we are in the start of a recession. The Fed moves to weaken the dollar which helps run up commodities. To make matters worse, corn is being increased to make expensive fuel that really won't help anything but does up the price for wheat by causing a shortage. More job cuts are on the way and that makes wage inflation doubtful. In the 70's, the increase in housing prices was made up by increasing wages. Not so in this go-round. Housing prices in high-end areas have to fall. Even the falling interest rates won't help them. What I think the government has to do is this: Pressure lenders to redo loans to home owners. Make decent 5% 30 year loans with a 7 year fixed rate of 5% to stabilize the market. Let the rest 'shake-out.' People could rent before they bought in over-their-heads so they won't be homeless, they'll just be renters again. Bush needs to work HARDER to get those tax-cuts of his permanent. In my opinion, that's the ONLY good thing he has done for the country. I think the rate-cuts should stay where they are and more focus should be placed on making lenders work with the government to correct that housing bubble they both created. Pete