President: Economic Recovery Won’t Be Quick

Economy President Bush Don't expect immediate relief from $700 billion bailout. Click here to hear the president's weekly radio address
by Associated Press/ CBS News
Published: Sat, October 04, 2008 - 11:33 am CST Last Updated: Sat, October 04, 2008 - 12:13 pm CST
WASHINGTON (AP) - President Bush is warning Americans not to
expect immediate relief from the 700 billion dollar bailout bill he
signed yesterday.
He says it will take time to implement. In his weekly radio
address, Bush says the government will "move as quickly as
possible," but will go "at a careful and deliberate pace" to
make sure the money is spent wisely.
The president says he's confident that by getting the markets
moving, it will unleash what he calls "the entrepreneurial spirit
of the American people."
The financial rescue plan gives the government broad authority
to buy toxic mortgage-related investments and other distressed
assets. It's hoped that will restore confidence in markets, and
make credit more available.
Treasury Secretary Henry Paulson says details for implementing
the plan are being worked out.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

AP-NY-10-04-08 1051EDT
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Razorsharp
Razorsharp Says:
Sat, Oct 04, 2008 at 4:16 pm

Hook…line…and sinker.

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