Gorge Bush, O'Neill and Lindsey express confidence in economic recovery

After the US release of the Q2 economic growth figures, US president George Bush said that the US economy was stagnant and failed to stage proper stamina. However, he said that the tax-reduction measure of US$1.35 trillion would bring stimulus and growth to the economy. US Treasury Secretary Paul O'Neill stated that the Q2 economic growth met anticipation, predicting that the economy will turn around in the fourth quarter. According to White House economic consultant Lawrence Lindsey, the economic performance in the second quarter would be the worst and the hardest times had gone, forecasting that the US economy would pick up strong growth under the currency policy and financial policy and after the solution of the energy crisis. However, he warned that the employment market would continue to be ailed by weakness.

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