Well, here’s a relief: ThinkProgress reports about one brilliant financial mastermind and his opinion on the cause of the poor state of the U.S. Economy: Bush Dismisses Iraq Recession: The War Has ‘Nothing To Do With The Economy’. Here’s the transcript, as posted in the article:
Some Americans believe that they feel they’re carrying the burden because of this economy.
G. BUSH: Yeah, well…
CURRY: They say we’re suffering because of this.
G. BUSH: … I don’t agree with that.
CURRY: You don’t agree with that? It has nothing do with the economy, the war — spending on the war?
G. BUSH: I don’t think so.
I think actually the spending in the war might help with jobs.
CURRY: Oh, yeah?
G. BUSH: Yeah, because we’re buying equipment, and people are working.
I think this economy is down because we built too many houses and the economy’s adjusting.
For full effect, be sure to watch the video (keep the antacid close).
Overall, to me, this is a real relief. And to think – this morning I was afraid that the $300 million per day we’re borrowing to finance our groundless war on Iraq had something to do with the fact that the Dow Jones Industrial Average closed at below 12,300 points today. What was I thinking?
Update: In completely unrelated news, ThinkProgress also reports that Bush’s Approval rating is now down to 19 percent. From the article:
President Bush’s latest approval rating, according to an American Research Group poll, down from 34 percent just one month ago. Seventy-seven percent of Americans disapprove of the job he is doing, and 79 percent disapprove of his handling of the economy.