CHICAGO. Dec 10: President George Bush said on 1 ursday that the US economy's performance was unacceptable and pledged to work with Democrats who control Congress to try to reach agreement on a plan to turn it round, reports Reuter.

The President travelled to Chicago for the latest in a series of trips to show his concern for the economy. He also wants to rally Republican support in the middle west a key battleground in the 1992 presidential campaign.

Bush toured the Chicago Board of Trade arid spoke from the "soybean pit' of the agriculture trading floor. Brokers wearing brightly coloured sport coats cheered Bush and then pandemonium broke out when he picked up a hammer and rang the ceremonial bell opening trading for the day.

"I am not happy nor Is anybody with the state of the economy,' Bush said. "We want to see it moving. We want to see it growing."

The President's popularity lias taken a slide simultaneous with the slowdown in the US economy. Bush's prudence, so Important to his foreign policy successes. has proved a liability on the economy because of

a perception of inaction at a time when people are losing their Jobs.

Bush has rejected advice from many private business people and economists to move swiftly on a new plan to trigger economic growth. He has decided to wait until his annual State of the Union Address in late January to unveil a growth package.

"I will gather up the best Ideas I can between now and

the time that the Congress comes back, try to lay partisan politics aside and get this country moving with a strong growth package that is long overdue.' Bush said

His plan for boosting the economy Is expected to include once again a cut In the capital gains tax rate, an Idea repeatedly rejected by the Democrats as advantageous for the wealthy. He also may offer tax cuts for first-time home buyers and for research and development.

Last week Bush's Budget Director. Richard Darman, said one option under consideration was tax cuts for the middle class, a proposal favoured by many Democrats who say it would stimulate spending.

The current performance of this economy is unacceptable." Bush said on Tuesday.

'Growth is too slow. But there's some encouraging signs. Interest rates are down — mortgage Interest rates — Inflation seems to be holding down, and now we've just got to give it a kick and get It started up again." he said.

Help for Moscow

Reuter adds from Washington : Meanwhile, a congressional panel plans to

explore ways to help the Soviet Union Increase Its oil exports, an aide said on Tuesday

Soviet oil production, which has fallen amid the country s political chaos and affected world supplies, could have a drastic impact on the United States, which imports half of Its oil.

The aide to the House of Representatives Energy and Power Subcommittee, said the panel, which plans a hearing on Wednesday, is considering a proposal to send technical advisers to help the Soviets repair faulty pipelines and equipment.

He said such support could help free up hundreds of thousands of barrels of Oil.

Most western companies are not Interested in helping the Soviet Union maintain its existing pipelines because they feel bigger profits lie In developing or finding new oil fields, the aide said.