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BUSH STILL AWOL ON THE ECONOMY
George W Bush has absolutely no clue as to what is happening to the American economy nor does he care. All he cares about is avoiding responsibility at all costs and blaming the Democrats if the economy tanks during his watch: Allen L Roland
Watching Bush explain soaring energy and food prices during a recent press conference is a good example how AWOL the President still is on the economy.
Here are the facts ~ Using the government's jury-rigged CPI, inflation is running at 4%. ( actually 11% ) ~ and with yesterday's cut, the Fed funds rate is only 2%.
That means the real interest rate (minus inflation) is a full two percentage points below zero!
The point of changing the CPI measurements, was to lower increases in entitlements (esp. Social Security) or, in other words ~ screw the senior retirees !
Scott Bateman ( Salon ) brilliantly captures the true meaning of Bush's incoherent mutterings about the economy. Click on two minute video and enjoy ~
Bateman: Bush tackles soaring food prices
If you're not outraged ~ you're on life support.
Allen L Roland http://blogs.salon.com/0002255/2008/05/01.html
Allen L Roland is a practicing psychotherapist, author and lecturer who also shares a daily political and social commentary on his weblog and website allenroland.com He also guest hosts a monthly national radio show TRUTHTALK on www.conscioustalk.net
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