Thompson would wait on economic stimulus
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Republican White House hopeful Fred Thompson made light of Federal Reserve Chairman Ben Bernanke's call for a quick economic stimulus Thursday and said it might be best to leave the economy alone for now.
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The slowing U.S. economy is unlikely  to sink into an election-year recession and an economic rebound  could begin as early as next year as housing and financial  market turmoil fades, the Congressional Budget Office forecast  on Wednesday.
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Ben S. Bernanke said he favored quick passage of an economic stimulus package in combination with the Fedâs own measures to support economic growth.
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Treasury Secretary Henry Paulson conceded on Tuesday the economy was being buffeted by "headwinds" but said the Bush administration has not yet decided whether it needs new stimulus measures.
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The stimulus package being hashed out between Congress and the White House, along with the Fedâs recent rate cut, should give a modest boost to the U.S. economy by mid-2008, the I.M.F. said.
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Amid growing worries about a worsening of the U.S. economy, Democratic presidential candidate Barack Obama proposed a $75 billion economic stimulus plan on Sunday that includes worker tax credits, a one-time pension supplement and help to homeowners facing foreclosure.
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The ritual pledges of political cooperation are in place. Now the challenge for a lame duck Bush administration and an election-year Congress is to agree swiftly on an economic stimulus plan.
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U.S. News & World Report - President Bush's economic stimulus plan would put $800 in the pocket of almost every taxpayer. Given that Congress is pretty much on the same page, why isn't that prospect buoying everyone's hopes? Maybe one reason is that Wall Street and consumers alike realize that unless oil prices drop significantly--which may well happen if we fall into a recession--many will be emptying that newfound stash just to pay for the increase in gasoline and other energy prices this year.
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An agreement in the Senate appeared within reach on an economic-stimulus program on Thursday.
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The slowing U.S. economy is unlikely to sink into an election-year recession and an economic rebound could begin as early as next year as housing and financial market turmoil fades, the Congressional Budget Office forecast on Wednesday.
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U.S. Treasury Secretary Henry Paulson on Friday said that there was an urgent need for a fiscal stimulus program to give the slowing economy a boost but said it was not in danger of stalling.
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Amid growing worries about a  worsening of the U.S. economy, Democratic presidential  candidate Barack Obama proposed a $75 billion economic stimulus  plan on Sunday that includes worker tax credits, a one-time  pension supplement and help to homeowners facing foreclosure.
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Presidential hopeful Mitt Romney on Monday said he would welcome Republican rival Fred Thompson to the race, but also took some jabs at Thompson's long delay in formally announcing his candidacy.
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Stock futures were little changed on Wednesday as worries about recession offset optimism on news the White House is considering a stimulus package to spur the economy.
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CEDAR RAPIDS, Iowa  - For Republican Fred Thompson, the former actor turned reluctant politician, the first few months of his floundering bid to be U.S. president were just a warm-up act. Now it is showtime.
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With the price of oil hovering near $100 a barrel and overall economic anxiety on the rise, President Bush said yesterday that he may use his upcoming State of the Union address to propose a stimulus package intended to promote growth and shore up weak parts of the economy.
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Presidential candidate John Edwards on Saturday said the country can't simply wait for the economy to turn around, and he wants Congress to come up with as much as $100 billion to prepare for a potential economic slowdown.