President Bush huddled with his top economic advisors today as new figures suggested a slowing US economy. Mr. Bush says he hopes to work with congress on a stimulus plan. The December job report shows employers adding the fewest new workers in four years, with overall unemployment at five percent -- the highest since 2005. Bush, meeting with his working group on financial markets, admits indicators are mixed but called for perspective. Bush said, "While there is some uncertainty in the markets, the important thing is the Financial markets are strong and solid." But Wall Street didn't see it that way, taking a tumble for a third day after perceiving a triple threat: unemployment up, energy prices soaring, and credit markets tightening -- hard news for any consumer to hear. Consumers may be right to worry, according to economists, who say the job market was the one thing holding the economy back from a recession. Moody's chief economist Mark Zandi said, "Recession odds are at least even and at least rising, clearly $100 for a barrel of oil, the odds are very high that by the spring we will be in recession." Still the white house continues to back away from using the "R-word" in any form. If actions speak louder than words, then consider this: for the first time, the president may offer an economic stimulus during his State of the Union address later this month.
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