15-United States President George w. Bush responded to the Democratic Party in the United States Government to rescue the economy shortchanging of criticism. He said that the Government cannot rescue the economy go too far, "one of the worst things is overkill". On the day Bush said in his speech on the radio, the recent adoption of the United States home and business tax refund of economic stimulus measures will in the second quarter, the contribution to the economy, the third quarter of this role will become more intense.
Economic slowdown causes is the real estate market downturn
According to the http://finance Senate majority leader, Harry Reid · Democratic Party members, recently said in a statement: "the President still convince myself that inaction is a panacea for economic issues. But Democrats believe that in the United States economy is sliding into recession, the wait is an irresponsible policy. "Reid says that the wages and prices in the United States decreased, while the healthcare, education, energy, etc., all in the price. "This week, crude oil, gasoline prices hit an all-time high, and the depreciation of the dollar to the lowest level in history. I hope that the awareness of these issues, the President of the slow and we needed a solution at present United States. ”
To this end, the United States President George w. Bush said the root causes of the economic slowdown is the real estate market downturn. But he said he was opposed to the current Parliament are discussing several measures. These include took out $ 400 billion acquisition of loss of redemption of housing, modify the Bankruptcy Ordinance to allow judges to adjust mortgage rates, rising to promote.
Bush said the United States, many young couples because of the price is too high could not purchase their first home, but at present the market is self adjust delay such adjustment would only unanswered questions. In his view, the economy, especially in response to the housing market crisis, cannot do too much, "or you will make the complex problems worse and eventually hurt housing all people than from our help. ”
Most economists see light-US economy
According to the Wall Street Journal on the United States economy expected latest investigative, most economists think the United States economy into recession. 51 71% of respondents felt that the economy into recession, this survey is March 7-11 April.
This pessimistic mood in large part due to the recently released employment report, statistics for the month of February, employment in the United States reduces 63000, for the second consecutive month. RBS Greenwich Capital of Stephen · Stanley said: "I decline of judgement from employment data, the numbers in my opinion is a sign of recession. ”
55 respondents of 29 people said they expected the quarter United States economic contraction appears, 25 people expect the second quarter, the economy will shrink. All respondents is the average expected weak growth in the United States economy: first quarter annualised growth 0.1% only, second-quarter growth 0.4%. Usually on the traditional definition of a recession as the gross domestic product (GDP) decreased for two consecutive quarters, but Stanley pointed out that if you look back at the 2001 recession, there was only one-quarter of GDP declining, but perhaps this recession has a quarter of GDP decline.
Economists also on the 2008 United States economic recession and perhaps more than in 2001, and 1990-1991, two are particularly concerned about the possibility of a recession. They believe that the more the average probability of severe recession is 48%, higher than the previous survey of 39%. MacroEcon Global Advisors Mark · Nielsen said, we believe that the two previous recession mild, this time if the degree of recession, may be larger than the two previous slightly more serious.
In view of the concerns of the economy, the United States Government respondents expected and United States Federal Reserve Board will take more action. About 63% of respondents indicated that the use of public funds to solve the real-estate crisis possibilities is large, and even can be said to be certain that they average expected Fed will before the end of June will be the benchmark federal funds rate from the current 3% to 2%.
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