It’s the Economy, Stupid

The American economy is in a bad way right now. The Consumer Price Index (CPI), which measures prices in terms of consumer goods, rose 1.1% in the month of June alone, representing an annualized rate of 13%. Gas prices are up. Food prices are up. Banks are struggling and mortgage lenders are failing. Rightfully, Americans are worried. Businesses are worried. Hell, Ben Bernanke, the Chairman of the Federal Reserve, is worried.

But guess who isn’t worried? Yes, that’s right – somehow, astoundingly, President Bush is not worried. Rather than promise us that he understands the severity of the problem and considers the economy a top priority (since, after all, most Americans do!), he not only downplays the problem, he belittles it! When asked about whether he was worried over the state of the economy in a speech given this week, President Bush offered this reassuring gem,

“I’m not an economist, but I do believe that we’re growing. I’m an optimist.”

And I do believe that we’re only half a year away from a new Presidency. Amen!

(Speaking of optimism, if I had one wish, I think it would be for the President to not speak for the remainder of his term in office and to voluntarily cede all decision-making rights over to Congress. I want him to become a silent, lame duck.)

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18 Replies to “It’s the Economy, Stupid”

  1. you know, I can’t even listen or read what he says anymore. I am astounded. I am even more astounded when I see bumper stickers that say-“bush/Cheney”. By the way, I put my award up -thankssss!!!

  2. I keep wondering how high the gas prices will go before the tipping point happens and we start to see a real effort for funding real solutions as an alternative for gas. It used to be that driving was cheaper than flying but we are driving to our vacation spot and it is crazy how expensive it is.

  3. Speaking as someone from across the pond, I know most people in the UK and throughout Europe will be delighted to see the back of Bush. A poll in England this week had Obama favoured by five times more people here than McCain, such is the desperation for the US to move away from all things associated with Bush/the Republicans.

    And while I feel your pain about gas prices, it still makes me laugh to hear Americans complain about $4/gallon petrol. Over here we’re paying £1.20 per litre ($2.40 PER LITRE!) and it’s risen about 25 per cent in the last six months…. when you’re at that level, then you can complain! 🙂

  4. Don’t blame me, I voted Libertarian.

    They founded the economy on Fiat Money quicksand.
    They regulated it into paralisis.
    They shrunk it with taxes.
    They tortured it with torts.
    They wasted it with welfare.
    They transfixed it with tarrifs.

    And now they say “the free market doesn’t work”. How could they possibly know that, having never seen one?!?!?!?!?

  5. This was my personal fav from Tuesday’s press conference:

    “I think people ought to conserve and be wise about how they use gasoline and energy. Absolutely. And there’s some easy steps people can take. You know, if they’re not in their home, they don’t keep their air-conditioning running. There’s a lot of things people can do.

    But my point to you, Mark, is that, you know, it’s a little presumptuous on my part to dictate to consumers how they live their lives. The American people are plenty capable and plenty smart people and they’ll make adjustments to their own pocketbooks. That’s why I was so much in favor of letting them keep more of their own money. It’s a philosophical difference: Should the government spend their money, or should they spend their own money? And I’ve got faith in the American people.

    And as much as I regret that the gasoline prices are high — and they are — I also understand that people are going to make adjustments to meet their own needs. And I suspect you’ll see, in the whole, Americans using less gasoline. I bet that’s going to happen. And in the meantime, technologies will be coming on the market that will enable them to drive and save money, compared to the automobiles they’re using before. And as you notice, the automobile industry is beginning to adjust here at home as consumer demand changes. And the great thing about our system, it is the consumer that drives our system; it’s the individual American and their collection that end up driving the economy. “

  6. Ummm…considering that Congress is even more inept than Bush – I shudder to think letting them make any freakin’ decisions. They are more worthless than the president. They have now taken over the honored bottom position as “The Do Nothing Congress” with a 9% approval rating. If you want to blame anybody for the woes of our economy, it is those useless nitwits in congress. Yes, Bush doesn’t get it..but..Congress gets it even less.

  7. My favorite moment in the course of this story playing itself out wasn’t anything the president said. It wasn’t really anything spoken at all. It was the silent “stupid” that pause Nancy Pelosi slipped into the magnificently pregnant between economy and mister, when she said “It’s the economy…Mr. President.”

  8. Let’s try that again…

    My favorite moment in the course of this story playing itself out wasn’t anything the president said. It wasn’t really anything spoken at all. It was tthe silent “stupid” hat Nancy Pelosi slipped into the magnificently pregnant pause between economy and mister, when she said “It’s the economy…Mr. President.”

  9. Yeah, the smart politicians in Chicago and Illinois have it all figured out. When the economy gets bad what do they do? They just tax us at a higher rate.

    God help the country if Obama gets into office. He was a do nothing Illinois congressman. He has ties to terrorists. Yes, Obama is a friend with someone who has bombed the Pentagon and is not regretful over it. The economy has been going into the crapper ever since Obama became a senator.

    What is the most corrupt state in the Union? Illinois. Who will become the most corrupt President in America? Obama.

    I don’t want to say that Obama is too young to be president, but at the recent Chicago 4th of July parade, Obama and his Secret service staff were all riding tricycles.

    I don’t understand how people can believe that Obama is going to bring change to Washington. He is part of Washington. And so is McCain. Plus, Obama talks tough, but he is afraid of Fox News. He is supposed to bring the world together and he is afraid of Fox News. Ha.Ha.

    I am always laughing when politicians in Washington are campaigning and say I have plans to change Washington. Now if they are not US Senators or Congress persons then it is difficult for them to effect change in Washington. But, Obama is already a Washington insider. If Obama has such great ideas then why doesn’t he present them NOW!

    Why should America suffer for another 9 months? Why does Obama not share these great ideas of his to SAVE America? We just blindly follow his great speeches and believe he will change America. He has no great ideas. He has no ideas. He is just another do nothing politician.

    Will the economy get better when Obama is in office? Of course. Talk to any economist right now and they will tell you the economy will improve dramatically in the next 12 to 18 months no matter who is in office.

    Are you concerned about the war in Iraq? What have Obama and the Democrats done to stop the war in Iraq? Weren’t we all promised it would all be over by now?

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