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the u.s. economy, which used to be the envy of the world is in the most serious trouble since the great depression. inflation is rising, standard of living is declining. tremendous inflation and not much growth. the country was not in a great depression but the united states is in the dumps. wall street was cold, gray, wet, and miserable. there was no comfort to be found outside for investors there was not much inside. the tickers carried almost nothing but bad news. we would have a terrible decade for investing. people were skeptical of the stock market. it was a sleepy wall street. most economists expect a serious recession with at least 2 million more americans losing their jobs. regret to say we are in the worst economic mess since the great depression. from the first moment of his presidency, president reagan let him know that his top priority is the nation s economy. i put a freeze on pending regulations of the task force under vice president bush to ....
what do we wall greed the day before an indictment? i m afraid recently we ve called it success. the u.s. economy, which used to be the envy of the world, is in the most serious trouble since the great depression. inflation is rising, while the standard of living is declining. there was tremendous inflation, and not much growth. the country was not in a great depression in 1980, but the united states was in the dumps. on wall street, it was cold, gray, wet, and miserable. there was no comfort to be found outside. and for investors, there was not much inside either. the tickers carried almost nothing but bad news. we d come off a terrible decade for investing. people were skeptical of the stock market. it was a very sleepy wall street back then. most economists expect a serious recession, with at least 2 million more americans losing their jobs. i regret to say that we re in the worst economic mess since the great depression. literally fro ....
All agree that this is an urgent problem. could they be bailed out without a tax increase? i don t think so. i think that is becoming the conclusion of most people. bush had to fill this smoking hole left by reagan and the only way to do that was to pass new legislation. we do start dipping into taxpayer money. senator say the only bailout will be for depositors, not bad anchors. no needs to worry about one nickel of their money. this legislation says, to tens of millions of s&l depositors, you will not be the them of other s mistakes. thank you very much. i am proud to sign this monster. essentially, george bush is covering the biggest overdraft in history. bush caves. he raises taxes. that kills them politically but saves america economically. ....
Is there any other way to do it? i don t think there is, and that s becoming the conclusion of most people. bush had to fill this smoking hole left by reagan for him, and the only way to do that is pass new legislation because now we had to start dipping into taxpayer money. the senator says only bailout will be for depositors, not for bad bankers. no one needs to worry about one nickel of their money in these institutions. this legislation says to tens of millions of s&l depositors, you will not be the victim of others mistakes. thank you all very much. and now i m proud to sign this monster. essentially, george bush is covering the biggest overdraft in history. bush caves. he raises taxes. that kills him politically, but saves america economically. listen carefully to this number, $500 billion. ....