George H.W. Bush: “Well, I say that, one, it's not good news. Two, unemployment has always been a lagging indicator. Three, the economy…”

“Well, I say that, one, it's not good news. Two, unemployment has always been a lagging indicator. Three, the economy grew in the first quarter, and we're confident that it will grow in the second quarter. But the main message that I get out of this is that the Congress ought to pass the economic growth stimulant package that we have up here and that these people surrounding me have been trying to get through. If you really want to help America get back to work and make this indicator be less of a lagger and more of a leader, pass the things to stimulate the economy. That's exactly what's needed. I would say it just shows that the recovery which we're in is not as robust as I'd like to see it. I will say the good news is the Federal Reserve Board has dropped the rates by 50 basis points, and I'm told that a couple of banks have already followed, lowering the prime rate. And I think that is a good way to stimulate growth. I think that will be very well-received by the markets and by the businesses, large and small, across the country. It's something that I'd indicated a few days ago I would like to see happen, and I think it's a very good thing. And I think we've got to get this money supply up, and this is a good step toward that end. So I would offset the news that I don't like by saying I think this will be very, very well-received, and it's fundamentally important to the economy. Presidential Campaign”