| so, now he's inherited his own mess...
MASSIVE budget deficits, job growth that remains exceptionally weak (despite all the babble during the campaign)... i'm sure the bushistas here know inside and out what bush's plan is for reducing the deficit... i was paying attention, but i never found a clear plan - so please, enlighten me.
also, we have rising energy prices which hurt lower income people the most. and it's eating into GDP - about 0.5% last year.
interest rates are set to rise again. and what's especially interesting is that despite rising rates - inflation is also rising. textbook economics states that when you raise rates, inflation falls.
about 100,000 job cuts are expected this coming month.
and, he's about to ask for $70 billion more for iraq.. where is he going to get this money?? if he borrows more, we'll get a healthy dose of inflation - which will cause more rapid interest rate increases - which will cause another recession. or, he can pay for the $70 billion by raising taxes.. that isn't something i expect to happen.
i ask any bushista here - what will bush do to fix the SERIOUS financial and economic problems that he did not fix during his first term? (and if no bushista is capable of answering, i welcome comments from anyone else.) |