The Fed today is pumping money into the economy with the purchase of long term treasuries. This is the direct opposite of what Bush did. Bush the senior criticised Reagan for his voodoo economics. Jr. Bush played an economic card that defies logic. He spent nearly $2 trillion while cutting taxes. A monkey could have figured that that was wrong way to go. Increase your spending while cutting income (taxes) is a reciepe for disaster. Add to that the total elimination of rules governing Wall Street and the perfect storm was set in motion. I'm sure George had hoped his little scheme would lasted just a bit longer at least until the second quarter of this year so he could sit back smirking and blame it all on Obama. But no George was busy giving away billions of borrowed money to banker friends. Nothing like feathering your nest before making that final exit. Only glad that he wasn't in office to finish off destroying the Medicare system and then robbing the retirees of their last scrap of pension. And you know he would have done it given the chance. How's that doughnut hole drug plan working for you guys? What will it be this month heat,food, or medication? Decisions decisions...
In other news I hear Bush is going to write a book. That is right after they give him the consrtuction paper and crayons.
I thought about buying a copy. Yeah I thought I could use it as a door stop but it's probably too thin to stop the door.
I hear there's a couple of Democrats that are banding together to try and block anymore spending plans by siding with the rethuglicans. Not a good idea boys. You block the plan to get this country back on track and you'll find yourselves run out of office like we did the last time around. Here's a suggestion guys, read up on what FDR did to get out of the depression. In 1930s dollars I'm sure what we've spent has been far less. Oh and here's another bit of trivia. FDR in 1938 listened to some of his advisors (republicans) and cut spending. The economy then started to tank. WWII and the spending that went with it kept that recovery going and by the mid 50s the economy was back.