22 August 2001, 08:56  Bush calls US economic slowdown "serious" and "real"

Washington, Aug. 21 (BridgeNews) - President George Bush said the U.S. is facing a "serious" and "real" economic slowdown but claimed, as he has many times, that the tax cut passed by Congress would help to fuel the country back to recovery. Bush, speaking in Independence, Mo., also said that despite slowing tax revenues, the White House would on Wednesday report the second largest budget surplus "in history."

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