Bush speaks on the economy. He's on the case, he says.

Bush just announced his plans to rescue the economy in a statement covered live on CNN. He wants a "growth package." Less than a month ago, in the December 29, 2007 radio address, Bush was singing the praises of the ecomony he's foisted upon us.

You have to wonder just how bad the Bush people think the economy is if they're willing to compromise on the centerpiece of Bush's presidency: The 2001 and 2003 tax cuts.

This is how the Washington Post described it:

Republican leaders, meanwhile, indicated that they could go along with a stimulus plan that does not include a permanent extension of Bush's first-term tax cuts, which are to expire in 2011.

"They've drawn a line in the sand on the Bush tax-cut extension, so we've seen a shift," said Rep. Eric Cantor (Va.), the Republicans' chief deputy whip. "There's been a realization that we need to get something done, and the expectations are not that high that we will get that done."

Bush never compromises. But, now, he's going to compromise on his tax cuts. In his remarks, Bush did say the tax cuts need to become permanent -- but apparently he's not going to hold up the stimulus package over them.

That says a lot about the state of our economy.