Bush confident economy will awaken from slumber

“I know it’s tough times, and I know you’re having to pay more at the fuel pump than you want,” Bush said. “But this economy is going to come on. I’m confident it will.”

After months of talking of the economy’s resilience, Bush was able to pivot his latest pep talk off some encouraging signs ‘ at least relative to the gloomy indicators of late.

Employers cut far fewer jobs in April than they did in March, although it was the fourth straight month of slashed payrolls. The unemployment rate dropped slightly, from 5.1 percent to 5 percent, which was a better-than-expected showing.

Elsewhere in the economy, the dollar gained a bit of strength, and there were even signs that food prices may be easing. Bush, reflecting on the weak and stagnant growth of the economy over the first quarter of the year, said, “That’s not good enough for America.”

Still, he said, consumers are just now starting to get relief from an economic package approved in February. Rebate checks of up to $600 for individuals and $1,200 for families began heading toward people’s mailboxes or directly into their bank accounts this week.

Bush called it a “robust attempt to inject life” that hasn’t really kicked in yet.