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gave his assessment
07/26/2010 20:21:50 / in love
127The Bush admininike shox stration says the U.S. econoNike Shox NZ my will continue to grow slowly in the coming months, but is basically sound. VOA Michael Bowman reports from Washington, where Treasury Secretary Henry Paulson gave his assessment of economic conditions after a week of turmoil in the banking and mortgage and wild Nike Shox OZ fluctuations in oil prices. Treasury Secretary Henry Paulson testifies on Capitol Hill in Washington before a meeting of the House Financial Services Committee of systemic risk and financial markets, shows July 10 2008Treasury Henry Paulson on Capitol Hill in Washington before the hearing House Financishox shoes al Services Committee on systemic risk and financial markets, July 10 2008Since end of last year, the U.S. gross domestic product grew at a significantly reduced rate, but managed to turn negative, the signal to allow a formal avoid a recession. Appearing on CBS 芦Face The Nation program, Secretary Paulson does not deny the difficult economic climate, but an expression of confidence in long-term American. Since the market boom of 2002-2006, the vaKids Nike Shox lue of homes in most parts of the country have declined. Moreover, the U.S. has a rash of forced sales of homes have seen that confidence in financial institutions shaken. Last week came evidence that spillovers affect the viability of the two giant mortgage institutionNike Shox R2 s guaranteed by the government (Fannie Mae and Freddie Mac), at least one domestic private bank, saw customers line in panic doors retirement means. Finance Minister Paulson believes that rapid action to reassure financial markets and therefore a stimulus for the housing. The Bush administration is lobbying Congress foair shox shoes r the federal government to acquire interests in mortgage institutions in difficulty and the Federal Republic of available credit lines for the expansion. With regard to public fears of bank failures, Paulson reminded Americans that are now federally insured accounts up to $ 100,000, so suddeNike Shox R4 nly want to withdraw funds is not justified. In the energy sector, the Minister of Finance of the high cost of fuel continues to weigh on economic prospects, and that U.S. produce and consume more less oil it needs. President Bush asked Congress to approve expanding drilling in waters off the coasts of America and in certain environmentally sensitive areas as a wildlife refuge in Alaska. PelosiU.S US House of Representatives speaker Nancy. Speaker of the House Nancy Pelosi (file photo), but the Democratic SpeNike Shox Monster aker Nancy Pelosi said additional drilling would take years to create oil, and supplementary feeding will be very little impact on gasoline prices. Speaking on CNN Late Edition program, Pelosi said there is a more direct solution: the development of oil from the Federal Reserve Bank Strategic Petroleum. What Democrats [name] is Mr President, free our oil from the Strategic Petroleum Reserve. There are over 700 million barrels of oil, and say [to] 10 percent of information has done for the American taxpayers paid for, and use it to put on the market, said Nancy Pelosi. The Strategic Petroleum Reserve was created a security zone in case of major disruptions in oil supply that the national and economic security of America threatened. Pelosi said record oil prices, expectations of a recession to justify their use is unknown. After months of almost continuous increase in the shox shoes online price of oil has fallen below $ 130 a barrel last week.
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