President George W. Bush on Monday said while the U.S. economy was going through a difficult time, he was confident it would rebound and urged Congress to give a recent economic stimulus package a chance to work.
"We're in a rough time right now, I'm confident we're going to come out of it. And when we do we're going to be a stronger and better country," Bush said.
The U.S. jobless rate rose to a 2-1/2 year high and employment fell by 80,000 jobs in March, the biggest drop in five years, according to government data released on Friday.
Democrats in Congress are considering writing legislation to provide a second shot of economic stimulus. Possible plans include more jobless benefits, food stamp aid and public works projects to help the economy.
Bush said the economic stimulus package enacted this year under which the first tax rebates would go out in May should be given time to have an impact.
"Give this one a chance to kick in," he said at the end of a meeting with owners of small and medium-sized businesses.
He said economists estimated that the stimulus package would mean 1 percent to 1.5 percent growth for the economy later this year.
"If that's the case, it's going to be an important part of the recovery," Bush said.
He said one of the concerns the business owners had expressed was the high cost of fuel.
Rep. Rahm Emanuel, an Illinois Democrat, issued a statement criticizing the White House for saying it was too soon to contemplate a second economic stimulus package.
"When it comes to the economy, the Bush White House continues to prove just how out of touch it is with what American families are going through to try to make ends meet," Emanuel said.
(Reporting by Tabassum Zakaria; Editing by Tom Hals)
