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In a move to calm growing concerns about the slumping economy, President George W. Bush assumed an optimistic stance as he addressed members of the Economic Club of New York in Midtown Friday morning.
“The economy is obviously going through a tough time,” said Bush, on a day that saw a stock market drop of 200 points and the near-collapse of the investment bank Bear Stearns.
Bush said this is not the first time the nation has faced an economic slowdown during his time in the White House, adding he’s certain the economy will recover in time as it has in the past.
“The interesting thing, every time this economy has bounced back better and stronger than before,” Bush said. “So I’m coming to you as an optimistic fella. I’ve seen what happens when America deals with difficulty. I believe that we’re a resilient economy and I believe that the ingenuity and resolve of the American people is what helps us deal with these issues, and it’s gonna happen again.”
The president used his address, carried live on NY1 and other news stations, to tout the benefits of tax relief, his economic stimulus package, and steps the Federal Reserve is taking to encourage economic growth.

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