Bush Blames Congress Speaking Economy

"It's a tough time for our economy," Bush said.

Senator Charles Schumer, a New York Democrat said Bush ``has closed his eyes and put his hands over his ears as these crises have grown.''

The president declined to say whether the U.S. economy is in a recession. Bush said, ``Economists can argue over the terminology."

With gasoline prices up an average of 66 cents from a year ago to $3.60 a gallon and diesel up to $4.24 a gallon from $2.92 last year, the administration is facing calls for action to stem the increases.

A group of 14 Senate Republicans earlier today asked Bush to stop buying crude oil for the Strategic Petroleum Reserve to ease price pressures, matching a similar request previously made by Democrats in the House.

``I have analyzed the issue and I don't think it would affect price,'' Bush said.He declined to endorse other short-term measures as well.

Bush said he would ``take a look'' at any proposals that may come from Congress. He said Congress would open more domestic land to oil exploration if it was ``truly interested'' in solving the problem of high gas prices.

Lawmakers have been ``vocal'' in opposing measures to expand exploration in the Arctic National Wildlife Refuge in Alaska.

Source: By This And That