Months ago we started publishing posts, critical of America’s economy. Immediately some readers accused us of overdoing it. There were some minor issues, but the economy was still quite healthy, and so forth. One problem for these individuals: George W. Bush disagrees with them.
In an appearance in the Rose Garden yesterday, the American president gave an usually stark view of the US economy. He said that the nation is in “very difficult times, very difficult,” adding that there are no “quick fixes.”
“If there was a magic wand to wave, I’d be waving it, of course. But there is no magic wand to wave right now. It took us a while to get to this fix,” the president said.
He didn’t call it a “recession,” but he also didn’t say that the US is not in a recession: “And we’ll let the economists define it for what it is.”
In short: it’s a recession, but he knows that all hell will break loose at the moment he uses that word.
At the same time he accused the Democratic Congress of “being uncooperative on bills that would address pocketbook issues.” Congress immediately hit back “accusing Mr. Bush of trotting out old ideas and of favoring big oil companies at the expense of average Americans.”
Whoever is right isn’t very relevant right now: the result is that nothing is done and that Americans will continue to suffer financially and economically.
/