President Bush Discusses Economy

THE PRESIDENT: Today's job data reflects the fact that our economy is in a recession. This is in large part because of severe problems in our housing, credit, and financial markets, which have resulted in significant job losses. I'm concerned about our workers who have lost jobs during this downturn, and I'm -- as we work to -- as we work to address the problems of this economy, we've extended unemployment insurance benefits to those who have lost their jobs during this downturn.

 We are focusing on the root causes of the economic downturn in order to return our economy to health. The most urgent issue facing the economy is the problem in the credit markets. Businesses and consumers need access to credit at affordable¹ rates to spend and invest. And so we're working to stabilize² the markets and make credit more affordable and available. We're working with the Federal Reserve and FDIC, and credit is beginning to move. A market that was frozen is thawing³. There's still more work to do. But there are some encouraging signs.

A root cause of the slowdown is housing, and so we continue to take actions that will avoid preventable foreclosures and speed a return to a healthy housing market. Interest rates help the housing market recover, and interest rates, mortgage rates, are going down. And plus there's a number of programs in place to help Americans stay in their homes, to limit the preventable foreclosures.

I am concerned about the viability⁴ of the automobile⁶ companies. I'm concerned about those who work for the automobile companies and their families. And likewise, I am concerned about taxpayer⁷ money being provided to those companies that may not survive. Put out a detailed⁸ plan recently that uses money that Congress appropriated last fall for the auto⁵ industry -- money that can be used so long as the companies make hard choices on all aspects of their business to prove that they can not only survive but thrive.

It is important that Congress act next week on this plan. And it's important to make sure that taxpayers⁹' money be paid back if any is given to the companies.

It's going to take time for all the actions we have taken to have their full impact. But I am confident that the steps we're taking will help fix the problems in our economy and return it to strength. My administration is committed to ensuring that our economy succeeds. And I know the incoming administration shares the same commitment.

Thank you very much.

参考中文翻译：

今天的就业数据表明我们的经济正在衰退。大部分原因是房地产，信贷和金融市场引发了大规模的失业。我很担忧在经济下滑中失去工作的工人。当我们公布经济中存在的问题时，我们已经对经济低迷中失业的人扩大了失业保险范围。

为了使经济恢复正常，我们集中精力寻找经济危机的根源。我们的经济面临的最紧要的问题是信贷市场。企业和消费者需要得到利率合适的贷款来消费和投资。所以，我们正致力于稳定信贷市场，使大家可以得到贷款。我们已经与联邦储蓄和FDIC团结一致努力工作，信贷市场开始好转。冻结了市场也开始活动。还有很多工作要做，但是也有一些鼓舞人心的信号。

经济下滑的根源是房产市场，所以我们继续采取措施，尽量避免可预防的房产没收，加速房产市场恢复健康。利率帮助房产市场恢复，利率，贷款利率都会降低。另外，还有一系列项目即将到位，帮助美国人保护自己的家园，避免可预防的房屋没收。

我很担心汽车公司的生存能力，我也很担心那些在汽车公司就职的人和他们的家人。同时，我担心纳税人的钱被提供给那些无法生存的公司。最近，国会出台了详细的计划以帮助急剧下滑的汽车行业。这些钱可以提供给这些公司，但是他们必须全力以赴的证明我们的决策是正确的，他们不仅要生存下去，而且必须繁荣起来。

我们所采取的措施要全面发挥作用需要一定的时间。但是我有信心，我们所采取的措施一定能够解决经济中的问题，恢复经济实力。我的政府承诺，我们的经济一定会再创辉煌。我知道，即将上任的新政府也会向大家保证这一点。