In a New Orleans news conference that concluded a summit with Canadian Prime Minister Stephen Harper and Mexican President Felipe Calderon, President George W. Bush reassured the American people on the state of the U.S. economy: "We're not in a recession, we're in a slowdown." The Decider pointed out that the economy grew in the fourth quarter of 2007 and that there were no statistics for the first quarter. "But there's no question we're in a slowdown and people are concerned about it, obviously." Bush's sanguineness on the economy is eerily similar to his pronouncements over the last five years about imminent victory in Iraq, and, as such, have little credibility. January 2009 cannot get here soon enough.
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