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U.S. President George W. Bush gestures as he delivers the final State of the Union address of his presidency to a joint session of Congress at the U.S. Capitol building in Washington, Jan. 28, 2008. (Xinhua/Reuters Photo) Photo Gallery>>> |
WASHINGTON, Jan. 28 (Xinhua) -- In probably his final State of the Union address, U.S. President George W. Bush urged on Monday night Congress to quickly pass a 150 billion U.S. dollar economic rescue package to fend off a looming recession.
"As we meet tonight, our economy is undergoing a
period of uncertainty," Bush said in the televised speech to the nation.
"America's added jobs for a record 52 straight
months. But jobs are now growing at a slower pace. Wages are up, but so are
prices for food and gas. Exports are rising, but the housing market has
declined," Bush said, depicting a mixed picture of the U.S. economy.
"At kitchen tables across our country, there is a
concern about our economic future. In the long run, Americans can be confident
about our economic growth, but in the short run, we can all see that growth is
slowing," he said.
To fend off a possible recession, Bush said, his
administration reached agreement with the House last week on a robust growth
package that includes tax relief for individuals and families and incentives for
business investment.
"The temptation will be to load up the bill. That
would delay it or derail it, and neither option is acceptable," Bush warned,
referring to attempts by some congressmen to renegotiate the package.
"This is a good agreement that will keep our economy
growing and our people working. And this Congress must pass it as soon as
possible," Bush said.