George Bush says the going will be tough

Calcutta News.Net
Saturday 4th October, 2008

US President George Bush has praised legislators for approving the $US700 billion financial system bailout package, but has warned it may not bring immediate relief.

In his weekly radio address, Mr Bush acknowledged the willingness of both political parties who worked across party lines to approve the package, but said the new financial measures would take time to implement.

He said the final cost to taxpayers would be much lower than the $US700 billion figure, because the so-called toxic mortgage-related assets that the government had bought 'will likely go up in price'.

That means 'that the government should eventually be able to recoup much, if not all, of the original expenditure,' he said.

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