President Bush says Americans can feel confident about the country's economic future even though growth has clearly slowed.
In his weekly radio address, Mr. Bush said an economic stimulus package will help turn the economy around.
The dollar recently hit a new low against other major currencies, the price of oil and gold hit new highs and investors continued to worry about inflation and a possible recession.
Mr. Bush blamed the country's economic problems on a downturn in the housing market.
He said that government must use caution in intervening, or it could further hurt the economy and homeowners.
The president said he opposes a plan that would give bankruptcy courts the authority to reduce mortgage debts, and a proposal that would artificially prop up home prices.
Mr. Bush said his administration is focusing on helping a targeted group of homeowners who could avoid foreclosure with help refinancing or restructuring their loans.
Source: By VOA News
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