President George W. Bush said
Congress needs to do more to create jobs, stepping up his focus on
the U.S. economy a month before elections determine whether his
Republican Party regains control of the Senate.
“Your economy is kind of ooching along,” Bush told a fund-
raiser for Massachusetts Republican gubernatorial candidate Mitt
Romney, former president of the Salt Lake City Olympic Organizing
Committee and chief executive of the investment company Bain
Capital LLC. “I will spend a lot of time working to strengthen
this economy any way I can.”
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Bush used today’s speech as well as a fund-raiser in
Baltimore two days ago to show concern that Americans be able to
find jobs. Ahead of the Nov. 5 elections, the speeches reflect the
potential that fears about the economy may hurt Republican
candidates, an analyst said.
“The polls show a strong public concern about war, but
voters have not tuned out the economy,” said Mark Rozell, a
professor of politics at Catholic University. “With the stock
market continuing to fall and a bad quarter for 401(k)s, there can
be a real shift that can alter the races.”
The Dow Jones Industrial Average has slid about 25 percent so
far this year, the Standard & Poor’s 500 Index is down 30 percent
and the Nasdaq Composite Index has plunged 41 percent.
Bush called on Congress to make permanent the $1.35 trillion
tax cuts that were enacted last year, pass terrorism insurance
legislation to encourage construction projects and jobs, and curb
spending in the federal budget.
Bloomberg News
