Bush and Congressional Democrats ready to cooperate on economy

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[President George W. Bush] was to unveil a fiscal stimulus plan later Friday, amid grim economic news that has united lawmakers and the Federal Reserve chief on the need to revive flagging US growth.

The White House has said Bush would propose policies, not dollar amounts, because details of the plan must be hammered out with the Democratic-controlled Congress.

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In a key concession to Democrats, the US administration appeared willing to accept stimulus legislation that does not include an extension of Bush's tax cuts, the Journal said.

Congressional Democrats, meanwhile, are suggesting they would be willing to suspend their own budget rules and accept a tax break without first figuring out how to pay for it, the Journal said.

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The two sides have been jolted into a bipartisan mood by the latest round of weak economic news and a downward spiral on Wall Street that prompted Fed chairman Ben Bernanke and others to talk up the need for swift action.

http://www.breitbart.com/article.php?id=08...;show_article=1