Economy shows tiny 0.2 percent Q4 growth signals end of recession
The Commerce Department reports a 0.2 percent annualized GDP rise in Q4, boosted by car spending and a 15 year high in government outlays. If revisions confirm positive output, economists may mark the recession’s end late last year or early this year, though 1.4 million still lost jobs. Federal Reserve expectations and Bush stimulus plans complicate the path to a sustained recovery.
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Bush State of the Union vows global war on terror
President Bush, in his first State of the Union, pledges to pursue terrorists across the globe and expand the war beyond Afghanistan. He also vows to revive the economy with a tax cut and calls Americans to two years of service while warning of an axis of evil including North Korea, Iran, and Iraq.
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Bush State of the Union highlights and warnings
Bush outlines post 9 11 policy with a focus on war on terror, Afghanistan victories, and plans to confront an axis of evil. He pledges greater homeland security funding, pension reform, and corporate accountability while warning that if nations do not act, America will. He cites vast terrorist training networks and calls for strengthened defense and intelligence spending.
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