What to do about the economy?

Steve Henn Jan 28, 2008


Scott Jagow: The state of the union is what? In recession, heading for one, at least economically distressed.

Tonight, President Bush will tell the country what he wants to do about it. What would you like to hear? Marketplace’s Steve Henn talked to some commuters and tourists near the White House this morning to get their feedback.

Steve Henn: Right now, many people, like Anne Marie Towne from Boston, think the economy’s in trouble. And she want’s the Bush Administration to do something.

Anne Marie Towne: We see this recession coming on, and I think that, you know, they should take responsibility and try to help people.

In the State of the Union, she’d like the president to talk about reigning in abusive loans — and not just mortgages.

Towne: I think credit cards are ruining the economy of this country, because they, you know, rack them up and they’re end up paying 20, 30 percent. Which they can’t afford.

But what about that stimulus package? What red-blooded American doesn’t love a tax rebate?

Todd Allen: Three-hundred, six-hundred — it’s not going to make a difference to anybody.

Like most folks I talked to, Todd Allen doesn’t believe the proposed tax rebates will keep America from tipping into a recession.

Allen: What we’re suffering through now has to be done, because people were doing stupid things — like getting mortgages they couldn’t afford.

But that doesn’t mean Allen, or any of the dozen people in my unscientific survey this morning, volunteered to send their checks back.

In Washington, I’m Steve Henn for Marketplace.

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