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Bush acknowledges challenges to U.S. economy
"CHICAGO: President George W. Bush, in a marked shift from his usual upbeat economic assessments, conceded here on Monday that the nation faces "economic challenges" due to rising oil prices, the home mortgage crisis and a weakening job market.
"We cannot take growth for granted," Bush said in a speech to a group of business leaders in which he acknowledged that "recent economic indicators have become increasingly mixed."
But even after a government report on Friday that showed unemployment jumped to 5 percent last month from 4.7 percent in November, Bush stopped short of warning that the nation may be about to enter a recession."
Bush acknowledges challenges to U.S. economy - International Herald Tribune
"CHICAGO: President George W. Bush, in a marked shift from his usual upbeat economic assessments, conceded here on Monday that the nation faces "economic challenges" due to rising oil prices, the home mortgage crisis and a weakening job market.
"We cannot take growth for granted," Bush said in a speech to a group of business leaders in which he acknowledged that "recent economic indicators have become increasingly mixed."
But even after a government report on Friday that showed unemployment jumped to 5 percent last month from 4.7 percent in November, Bush stopped short of warning that the nation may be about to enter a recession."
Bush acknowledges challenges to U.S. economy - International Herald Tribune