President Bush is dismissing widely feared speculation the nation is headed into a recession. At a White House news conference Thursday, Bush said his recent economic stimulus package would help the nation cope with a slowdown.

President Bush: “I don’t think we’re headed to a recession. But, no question, we’re in a slowdown. And that’s why we acted and acted strongly with over $150 billion worth of pro-growth economic incentives, mainly money going into the hands of our consumers, and some money going to incent businesses to invest, which will create jobs.”

Bush went on to renew calls for Congress to approve a surveillance law that would immunize telecommunications companies that aided government spying on US citizens. He also took a backhanded shot at Democratic hopeful Barack Obama over his recent comments promising to sit down with leaders of Iran and Cuba.

President Bush: “The decisions of the US president to have discussions with certain international figures can be extremely counterproductive. It can send chilling signals and messages to our allies. It can send confusion about our foreign policy. It discourages reformers inside their own country. And in my judgment, it would be a mistake, on the two countries you talked about.”