President Bush: Financial Rescue Plan Will Take Some Time
President Bush says the $700 billion plan to save the teetering U.S. economy will take some time to work. After meeting with small-business owners at an old-fashioned soda shop in San Antonio, Texas, the president sought patience from a jittery country.
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AP
Published: October 6, 2008
SAN ANTONIO, Texas (AP) - President Bush says the $700 billion plan to save the teetering U.S. economy will take some time to work.
After meeting with small-business owners at an old-fashioned soda shop in San Antonio, Texas, the president sought patience from a jittery country.
Congress last week approved a massive plan of federal intervention that allows the government to buy up devalued assets from financial companies in hopes of unlocking frozen credit lines.
Bush said he signed the bill last week, but that “it’s going to take awhile” to get the program working fully and effectively. He called it a big step toward solving the problem.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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