Prometheus 6

President Considers A Boost to Economy
State of Union Speech May Detail Proposal
By Peter Baker
Washington Post Staff Writer
Friday, January 4, 2008; A03

With the price of oil hovering near $100 a barrel and overall economic anxiety on the rise, President Bush said yesterday that he may use his upcoming State of the Union address to propose a stimulus package intended to promote growth and shore up weak parts of the economy....

The concern in the White House follows a number of troubling indicators that some economists say may point to a recession this year. Beyond the volatility in the housing market and the surging price of oil, a new report this week suggested that the manufacturing sector may be contracting. Meanwhile, the Commerce Department reported the largest monthly drop in construction spending on single-family homes in 14 years, while orders for durable goods dropped for two consecutive months. On the other hand, Commerce said yesterday that orders for manufactured goods rose by 1.5 percent in November.