White House not forecasting recession

0 Comments | AFP, January, 2008

WASHINGTON (AFP) — The White House said Tuesday it was not predicting a recession in the United States and but that it was open to a larger stimulus package than its proposed 140-150 billion dollar boost.

Spokeswoman Dana Perino also flatly refused to comment on turmoil hitting world financial markets in an apparent sign of skepticism that US President George W. Bush's proposed boost will avert a sharp downturn.

"We don't comment on daily fluctuations" on financial markets, Perino told reporters, adding: "We are not forecasting a recession. Clearly there is a slowdown."

Asked whether Bush still believed that stimulus roughly equal to one percent of US Gross Domestic Product -- 140-150 billion dollars -- was enough, Perino replied: "I have not heard anybody...