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Bush calls for economic kickstart Bush calls for economic kickstart
(10 minutes later)
President George W Bush has called for a stimulus package to prevent the fragile US economy falling into a downturn. President George W Bush has called for a stimulus package worth billions of dollars to prevent an economic downturn.
He said the package would have to be big enough to make a difference to the "large and dynamic" US economy.He said the package would have to be big enough to make a difference to the "large and dynamic" US economy.
Mr Bush said it had to include tax incentives for US business and direct tax relief for the American people.Mr Bush said it had to include tax incentives for US business and direct tax relief for the American people.
The spending package should total at least 1% of gross domestic product, he said. The spending package should total at least 1% of gross domestic product, the president said.
White House advisers said that 1% of GDP would amount to $145bn.
Mr Bush said the package should be "a shot in the arm to keep a fundamentally strong economy healthy".
"To keep our economy going and creating jobs, Congress and our administration need to work together to enact an economic growth package as soon as possible," he said.
He said he expected the economy to continue to grow, but at a slower rate than in previous years.