Bush Declares U.S. Economy Showing Signs Of Recovery

September 1, 2008 12:03 p.m. EST

Washington, D.C. (AHN) - In his weekly radio address, President George W. Bush said the U.S. economy is showing signs of improvement following the $168 billion stimulus package the Treasury disbursed earlier this year.

"While the housing market is continuing to experience difficulty, the decline in home sales has leveled off recently, and sales are rising in some parts of the country," Bush said. "Orders for some durable goods, such as business equipment, are rising. And earlier this week we received a report that America's economy grew in the second quarter at an annual rate of 3.3 percent - surprising analysts who were predicting an economic recession."

Bush also repeated his rebuke against Democratic lawmakers for failing to pass an energy bill that lifts the moratorium on offshore drilling. "In the coming months, it will be tempting for some in Congress to try to score political points instead of getting work done for the American people... At a minimum, Democratic leaders in Congress should move forward on common-sense energy proposals that have bipartisan support - and it is not too late to do this," Bush said.

Bush also called for Congress to approve free trade agreements with Colombia, Panama and South Korea, as well as make permanent the tax cuts Republicans were able to pass in 2001 and 2003.