Bush: Economy on Track to Recovery

Former President George W. Bush said recently that while the current economic crisis has sent shock waves around the world, he believes steps taken by his administration have "laid the groundwork for a return to economic growth and job creation" early in the administration of President Barack Obama.

He said this resilience has continued despite multiple blows to the economy. His statement was made at the beginning of the annual report of the White House Council of Economic Advisors. Those advisers predicted "a strong economic recovery early in the term of the next administration."

The advisers suggested that the economic downturn, reflected in the half-percentage-point contraction in the gross domestic product in the final quarter of 2008, will likely continue in the first half of 2009. The White House panel noted that "most market forecasts" suggested a recovery beginning in the second half of 2009 "that will gain momentum in 2010 and beyond."

We’d love to know how you feel about this. Do you honestly think the economy will see a strong economic recovery in 2009? Or will newly inaugurated President Obama face tougher challenges in his first year than anyone (including himself) thought?

Use the comment link below and tell us what you think. Your email address is needed to post, but rest assured, our filtering system will not publish your email address with your comments in order to protect your privacy. We’d love to hear from you.