WASHINGTON (Reuters) - President George W. Bush said on Friday that fiscal stimulus measures should be given a chance to perk up the economy before taking a risk of overreacting through more direct government intervention.
In a taped interview on CNBC’s “Kudlow & Company” later on Friday, Bush said there were a lot of “deal breakers” in a proposal by Capitol Hill Democrats to let the Federal Housing Administration offer guarantees for home mortgages whose value has fallen.
“We ought to make sure that this stimulus package we passed has a chance to work before government overreacts,” Bush said, according to a transcript released in advance by CNBC.
He repeated that he favors a strong U.S. dollar and said he was confident it will be stronger in the long run.
Reporting by Glenn Somerville; Editing by Dan Grebler
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