WASHINGTON (CNN) - With 85,000 jobs lost so far in 2008, the yen surpassing the dollar for the first time in twelve years, and a recent NBC/WSJ poll revealing that 43 percent of Americans feel they were better off four years ago, the economy has become the number one issue for the American voter in the upcoming election.
As a result, the notion of a “recession” was the topic of choice for the Sunday morning talk circuit.
On ABC’s "This Week,” House Speaker Nancy Pelosi, in addition to warning against superdelegates determining the Democratic nomination, told host George Stephanopoulos she refrains from calling the current economic state a recession.
“I don’t like to use that word…I think that what we need now is confidence,” the California congresswoman said. She went on to praise the recently passed economic stimulus package and talked about plans for another stimulus package in the near future.
On “Fox News Sunday," Chris Wallace hosted Senate Banking Chairman Chris Dodd and Senate Finance Committee member Chuck Schumer to discuss whether the economy is in a recession.
Senator Schumer pulled no punches on the question of a recession, telling Wallace, “The economy is talking down the economy. The statistics that we see on foreclosures, gasoline prices, the dollar, and the deficit talked down the economy.”
Sen. Dodd took a swipe at the Bush administration and its track record with the economy. “This will be the second recession in this administration – twice in one administration to have a recession,” Dodd said.
CNN’s “Late Edition” interviewed Treasury Secretary Henry Paulson. Paulson downplayed talks of a recession. “I'm not focused right now on what-you-call-it, economists will argue about this for months and months,” he told Wolf Blitzer. “We know the economy has slowed down. The American people know it has slowed down. So the important thing is, what do we do about it?” The former Goldman Sachs CEO later predicted that a half million jobs could be added this year thanks to the bipartisan stimulus plan that President Bush signed earlier this year.
– CNN’s Jessica Rummel
Well good. Trent Lott leaving the White House to support Airbus?
I'm tired of Nixon. Check out Henry Paulson when you get a chance, and see where he comes from? And, Johnny's in bed with them.
I liked Carson, but I'm sick of these guys.
Millions of good paying American jobs have been outsourced to India and China during the Bush administration. Jobs lost in every state. Some states more than others but the whole country is affected . You can't blame everything on the mortgage brokers. People who fear they may not be working next week are not going to spend money.
who wouldve figured...Moss's statement follow the usual trend of blacks painting themselves as victims! soooooo sick of it. A black man makes ridiculously imflamatoy comments and then calls the media out or attacking black chuches as a whole, which no one ever did!...absolutely ridiculous but typical...and for this reason...obama loses the election
The best policies may not help Economy of great nations, when cosmic dispensational power-shift is about to take effect. Look at they flow, Egypt ->Persia->Rome->Europe->America->Asia->Africa
VOTE DEMOCRAT IN NOVEMBER. That will fix the economy.
we need a new change to fix the economy.
vote democrat nov. 2008
Instead of wandering around Iraq John McCain should try "wandering around" closed steel mills and jobless Americans. What happened to the needs of Americans??? Enough of Bush-McCain fear tactics.
Thank you. It is incredible how this sound bite gets repeated over and over again. I am glad the Church as spoken up. And afer watching CNN today – Wolf Blizter's show, and one of your biased reporters said now we must find out how many times Barack was in that pew and how many times did he hear that sermon and did that define him. Unbelievable. Barack already make a statement regarding that issue. I truly am finding it difficult to watch your biased news shows and intend to watch MSNBC or any other news show from now on.