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February 26, 2008 / chrisisgross

can we just ask george bush to retire early

or maybe we can just offer him a severance package/buyout like they are doing at ford. that way we can bring in someone new who will work for half the wage we are paying him. seriously anyone would be better.

now that the snark is our of the way i actually have a point. say what you will about iraq, afghanistan, rendition, warrant-less wire tapping, the largest deficit in american history(we are borrowing money at 5% of gdp an all-time high), a growing trade gap, or even the history of mistruth and inaccuracy  that have been the hallmarks of this administration and a lot has been said about that; at what point will the outrage over  george bush’s mismanagemet of this country start.

it seems that in the recent weeks there is a new story of economic depression daily. today after nonstop discussion of the housing collapse and the decreases in the job market as well as the fear of recession i heard a new concern. a concern that was once thought to only be a macroeconomic theory, stagflation(though there has been one previous case with nixon).

what this is is a combination of stagnation and inflation due to the misguided fiscal policies of the supposed fiscal conservative george w. bush.  bush’s early commitment to oil in his presidency and his rejection of a fundamental energy policy that took into account the dwindling supply of oil as well as the impending effects of  global climate change coupled with irresponsible spending on  two misguided and mismanaged wars has placed our nation into a rather bleak situation. we are spending more than we are making and at the same time the value of what we are spending is worth less.

the prices of food are expected to increase by 10% over the next 5 years and gasoline may  push to over $4 a gallon come the spring yet the value of our currency has fallen. by allowing the interest rates to be cut more money has been pushed into the system and the tax rebates have yet to kick in. when they do the situation may actually become worse not better for those on the lower end of the economic spectrum. their costs will be higher, yet there money is devalued. the economy is not growing with inflation it is stagnating.

the current administration has taken our futures from us. cynicism reigns. i am some what surprised by how hard the candidates are fighting for the white house. it almost seems to me to be a job that is going to be incredibly difficult. no one can be ready on day one for the mess that they are about to wade into.


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