Bush goes to camp for economic advice

Kai Ryssdal Aug 18, 2006

KAI RYSSDAL: Today was a big day for the White House economic team. The annual get together with the boss. All the big names in the cabinet were there. Hank Paulson from Treasury. Elaine Chao, the secretary of Labor. A couple of senior White House staffers. We’ll let the president give you the economic verdict:

PRESIDENT BUSH: Things are good for American workers, and good for the entrepreneurs. And that’s good for the country.

It’s possible somebody forgot to tell workers at Delphi to listen to the president’s remarks. The bankrupt auto parts maker announced today 6,300 hourly employees have chosen to take early retirement or a buyout. That’s about 20 percent of Delphi’s total workforce. It’s a good thing for the company, which is cutting costs as it tries to find a way out of Chapter 11.

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