Bush Says US Economy Recovering, but not Fast Enough

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Last updated at: (Beijing Time) Wednesday, January 29, 2003

Bush Says US Economy Recovering, but not Fast Enough

US President George W. Bush said Tuesday that the US economy is recovering, but not fast enough and offered his tax-cut plan as a way out.

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US President George W. Bush said Tuesday that the US economy is recovering, but not fast enough and offered his tax-cut plan as a way out.

In his annual State of the Union address, the president described the United States as still recovering from recession, terrorist attacks, corporate scandals and stock market declines.

"Our economy is recovering, yet it is not growing fast enough or strongly enough," Bush said.

Bush was trying to promote his huge economic package to the still divided Americans over the solution to the ailing US economy.

"The best, fairest way to make sure Americans have the money is not to tax it away in the first place," he said, adding that "jobsare created when the economy grows."

Bush surprisingly unveiled a 10-year and 674-billion-dollar economic stimulus plan on Jan. 7, the largest tax-relief in a generation, to promote economic growth and create more jobs.

Although the tax-cut plan is welcomed by many economists and politicians, there's still disagreement from those who are concerned with the deficit issue as well as whether it is a plan fair to all.

The US economy has been struggling to get back to a stronger footing since the recession in 2001, which has been a major concern of the country. However, the country is still much divided on how to achieve that goal.

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