Associated Press

“President Bush, acknowledging the risk of recession, embraced about $145 billion worth of tax relief and other incentives Friday to give the economy a “shot in the arm. ” Bush said such a growth package must also include tax incentives for business investment and quick tax relief for individuals. And he said that to be effective, an economic stimulus package would need to roughly represent 1 percent of the gross domestic product — the value of all U.S. goods and services and the best measure of the country’s economic standing.

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