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No.241 オリジナル英文

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Bush Calls for Action on Economic Challenges
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President Bush says he does not know whether America's sagging economic performance meets the technical definition of recession.

But he says, without a doubt, conditions are "tough" for Americans struggling with high energy prices, soaring food costs, a plummeting housing market and tight credit.

"Across our country, many Americans are understandably anxious about issues affecting their pocketbook: from gas and food prices to mortgage and tuition bills."

Speaking from the White House Rose Garden, Mr. Bush said his administration has made a series of proposals to shield the American people from the worst effects of the economic turndown and to address long-term energy needs.

But, he said Congress has refused to act on the proposals from extending tax cuts to expanding America's oil refinery capacity.

He was particularly critical of congressional resistance to authorizing oil exploration in a national wildlife refuge in Alaska, known as ANWAR.

"Members of Congress have been vocal about foreign governments increasing their oil production, yet Congress has been just as vocal in opposition to efforts to expand our production here at home."

His comments provoked a swift response from congressional Democrats, who control both legislative houses.

New York Senator Charles Schumer says the president is out of touch with the American people, and late in leading the charge for action on the economy.

"The president and the White House have repeatedly ignored repeated shots across the bow of our economy: rising foreclosures, falling home prices, withering consumer confidence, and record oil company profits.

None of them are being addressed."

The back-and-forth between the White House and Capitol Hill on economic matters came amid a mixed batch of U.S. financial indicators.

U.S. consumer confidence now stands at a five-year low, a sign that consumer spending may slow in the months to come.

Another report shows U.S. housing prices dropped in February at the fastest rate ever recorded.

On a more positive note for American consumers, oil prices receded amid reports of falling domestic demand for fossil fuels.

Michael Bowman, VOA News, the White House
by danueno | 2008-05-07 16:44 | オリジナル英文


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