Quotes from AP Interview with Paulson

By The Associated Press

The Associated Press

May 07, 2008

Quotes from Treasury Secretary Henry Paulson's interview Wednesday with The Associated Press:

STIMULUS REBATES: 'I think they're coming at a good time.'

'Some families will use them to help fill up their gas tank, for a family vacation, or to help (buy) back-to-school clothes and a lot of other things that people are going to like to get done.'

HOUSING CRISIS: 'Even the optimists believe that you're going to continue to see in the next several months ... housing prices decline, that foreclosures increase. That's what happens during a correction.'

'Housing continues to be the biggest risk to the downside of the economy.'

CREDIT CRISIS: 'I think we're closer to the end of this than ... to the beginning. That's what I believe. But I would not be at all surprised to continue to see some bumps in the road.'

RISING GAS PRICES: 'The high price of gasoline is unwelcome and is a challenge and is a headwind.'

ETHANOL AND FOOD PRICES: 'I would just say to you that we looked at this and let's recognize that the ethanol mandate is not what is driving this right now. ... Economics are what is driving this. It is not the (government) mandate.'

WEAK ECONOMY: 'The American people know we are going through a tough time and it is not acceptable to them. ... We will get some help from the stimulus. Later this year, I expect growth will pick up.'

MORTGAGE ASSISTANCE: 'Housing is an important area and there are certain things that we need to get done there from Congress. ... I view my job as to work to get something that is acceptable and that the president can sign.'

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