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Bush says worried about slowing U.S. economy

WASHINGTON (Reuters) - President-elect George W. Bush said Friday he was worried about a slowdown in the U.S. economy, adding Vice President-elect Dick Cheney had echoed his own concerns when talking earlier this month about the risk of a recession.

"People are concerned about the economy. I think there is concern about some of the manufacturing base," Bush told reporters in Austin, Texas, adding that high energy prices and weakening demand for automobiles also provided warning signs over the future course of the economy.

Asked about Cheney, who last weekend said the U.S. economy may be on the "front edge of a recession", Bush replied: "He was right in echoing my concerns about a possible slowdown."

Bush has proposed to use bulging government budget surpluses to finance a $1.3 trillion tax cut that would boost U.S. demand. He said he was looking forward "to going to Washington to make the case" for his plans against the backdrop of a slowing economy.

Copyright 2000 Reuters. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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Friday, December 15, 2000


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