Friday, November 14, 2008
Oh that Bush Economy
Today George Bush was in New York talking up the economy and boasting how effective his give away to Wall Street has been. He also said a bunch of bullshit about how it wasn't the lack of regulation, etc. that caused the meltdown and our spiral into depression,
What's that dear reader, you doubt we're spiraling into depression? Today, the Atlanta Journal Constitution reports,
Still doubting that George Bush and the Republican Party has driven the US into depression through misrule? New York state is facing
Apparently George Bush doesn't think giving billions to bankers and giving tax cuts to the wealthy isn't a form of government intervention. Unfortunately, there are still enough delusional Republicans in Congress to force their delusions on the rest of us.
Today George Bush was in New York talking up the economy and boasting how effective his give away to Wall Street has been. He also said a bunch of bullshit about how it wasn't the lack of regulation, etc. that caused the meltdown and our spiral into depression,
the greater threat to economic prosperity is not too little government involvement in the market, but too much.And then boy genius tried to say that the Europeans are suffering the same meltdown as we are despite their excessive regulation. Of course, being the complete idiot he is, Bush failed to note that many of those same European banks, governments, etc. had invested heavily in the U.S. mortgage market and CDS market.
What's that dear reader, you doubt we're spiraling into depression? Today, the Atlanta Journal Constitution reports,
A $1.6 billion project to build a new international terminal at Hartsfield-Jackson International Airport could be suspended within the next few months because the airport has been unable to sell $600 million in municipal bonds, the head of the airport said Thursday. [. . .] He said the airport’s debt rating is solid, at “A+”, which is considered investment grade.Oh, about 300 good-paying construction jobs are at risk. Yep, the credit markets are working just fine and the banks are using all of that tax money George Bush gave them to extend loans and otherwise extend capital. When the busiest airport (that means lots of revenue) can't sell it's bonds, we're in a depression.
Still doubting that George Bush and the Republican Party has driven the US into depression through misrule? New York state is facing
budget deficits of $1.5 billion this year and $12.5 billion next year.Yep, that's a budget deficit of $12.5 billion. And George Bush goes blithely on doing nothing. Oh wait, he's done something, he's given billions to Wall Street bankers and is probably dreaming of tax cuts for the super rich.
Apparently George Bush doesn't think giving billions to bankers and giving tax cuts to the wealthy isn't a form of government intervention. Unfortunately, there are still enough delusional Republicans in Congress to force their delusions on the rest of us.
Labels: bailout, Bush, credit crunch, depression, economic crisis, idiot, Republican, Wall Street