NRF urges action on slow economy

WASHINGTON The National Retail Federation announced today that it has sent a letter to President Bush and Congressional leaders calling on them to take quick action to help stimulate the nation's economy.

The lettter was written following the passage of a resolution calling for legislation to boost the United States struggling economy.

“U.S. retailers, who are a bellwether for our nation’s changing economic climate, are greatly concerned about the softening of the U.S. economy,” NRF president and ceo Tracy Mullin wrote in the letter. “2007 holiday sales were the weakest since 2002, and as the new year begins, consumer spending remains sluggish. Consumer spending represents 70% of the U.S. economy and has fueled our economy for the past decade. We agree with economists who say the fastest way for a stimulus to enter the economy is through the consumer.” 

Mullin added, “Because it is so important to enact this legislation in a timely manner, we urge you to work with congressional leaders on a bipartisan basis to move a simple, targeted economic stimulus package as soon as possible.” 

Mullin’s comments came in a letter to Bush delivered to the White House today. Similar letters were sent to House Speaker Nancy Pelosi, D-Calif., and Minority Leader John Boehner, R-Ohio, and to Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky.