{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='President Bush announces what he considers his economic stimulus plan' data-url='/boclips/videos/5c54badbd8eafeecae120a1f' data-video-url='/boclips/videos/5c54badbd8eafeecae120a1f' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nPresident Bush announces what he considers his economic stimulus plan\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\u0026amp;search_tab_id=1\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. US President George W. Bush walking into Roosevelt Room2. SOUNDBITE: (English) George W. Bush, U.S. President:\"After careful consideration, and after discussions with members of Congress, I have concluded that additional action is...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. US President George W. Bush walking into Roosevelt Room\u003cbr/\u003e2. SOUNDBITE: (English) George W. Bush, U.S. President:\u003cbr/\u003e\"After careful consideration, and after discussions with members of Congress, I have concluded that additional action is needed. To keep our economy growing and creating jobs, Congress and the administration need to work to enact an economic growth package as soon as possible.\"\u003cbr/\u003e3. Bush speaking\u003cbr/\u003e4. SOUNDBITE: (English) George W. Bush, U.S. President:\u003cbr/\u003e\"This growth package must be big enough to make a difference in an economy as large and dynamic as ours - which means it should be about 1 percent of GDP (gross domestic product). This growth package must be built on broad-based tax relief that will directly affect economic growth - and not the kind of spending projects that would have little immediate impact on our economy. This growth package must be temporary and take effect right away.\"\u003cbr/\u003e5. Wide of Bush speaking\u003cbr/\u003e6. SOUNDBITE: (English) George W. Bush, U.S. President:\u003cbr/\u003e\"To be effective, a growth package must also include direct and rapid income tax relief for the American people. Americans could use this money as they see fit - to help meet their monthly bills, cover higher costs at the gas pump, or pay for other basic necessities. Letting Americans keep more of their own money should increase consumer spending, and lift our economy at a time when people otherwise might spend less.\"\u003cbr/\u003e7. Zoom in on Bush speaking\u003cbr/\u003e8. SOUNDBITE: (English) George W. Bush, U.S. President:\u003cbr/\u003e\"By passing an effective growth package quickly, we can provide a \"shot in the arm\" to keep a fundamentally strong economy healthy. And it will help keep economic sectors that are going through adjustments, such as the housing market, from adversely affecting other parts of our economy.\"\u003cbr/\u003e9. Wide of Bush and officials leaving room\u003cbr/\u003eUS President George W. Bush, acknowledging the risk of recession, embraced about 145 (b) billion US dollars worth of tax relief on Friday to give the US economy a boost.\u003cbr/\u003eBush said such a growth package must also include tax incentives for business investment and quick tax relief for individuals. \u003cbr/\u003eHe outlined several criteria for the package to meet.\u003cbr/\u003eBush said that to be effective, \"This growth package must be big enough to make a difference in an economy as large and dynamic as ours - which means it should be about 1 percent of GDP (gross domestic product)\" - the value of all US goods and services and the best measure of the US' economic standing.\u003cbr/\u003e\"This growth package must be built on broad-based tax relief that will directly affect economic growth - and not the kind of spending projects that would have little immediate impact on our economy,\" Bush said. \u003cbr/\u003e\"This growth package must be temporary and take effect right away.\"\u003cbr/\u003eThe president and Congress are scrambling to take action as fears mount that a severe housing slump and painful credit crisis could cause people to close their wallets and businesses to put a lid on hiring, throwing the world's largest economy into its first recession since 2001. \u003cbr/\u003eThe state of the economy has become a major topic in the US presidential campaign, replacing the Iraq war.\u003cbr/\u003eBush said that Congress and the administration need to settle on a temporary economic package that could be implemented quickly to \"keep our economy growing and create jobs.\"\u003cbr/\u003e\"Letting Americans keep more of their money should increase consumer spending,\" he said.\u003cbr/\u003eSpecifically, he called for tax incentives for businesses, including small companies, to make new and major investments this year. \u003cbr/\u003eHe also called for tax relief for individuals - probably to come in the form of one-time rebates. \u003cbr/\u003eBut he did not say how much money Americans would get to keep or the amount of other tax incentives that could be in the package. \u003cbr/\u003eNor did Bush detail how the US would pay for such a plan.\u003cbr/\u003e\"Americans could use this money as they see fit - to help meet their monthly bills, cover higher costs at the gas pump, or pay for other basic necessities,\" he said.\u003cbr/\u003eSpeaking for about seven minutes, Bush called passing a growth package the most pressing economic priority. \u003cbr/\u003eBut he also used his announcement to defend his tax cuts, which are set to expire unless the Democratic-led Congress opts to extend them.\u003cbr/\u003eHe acknowledged Americans' fears of an economic downturn.\u003cbr/\u003eHe said his advisers and many outside experts expect that the US economy will continue to grow over the coming year, but at a slower rate than the past few years.\u003cbr/\u003eBush said markets rise and fall, and there are times when swift, temporary action by 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