Monday, December 27, 2004

Bush's Fiscal Policy Disaster

As the dollar continues to plummet under the economic genius of the Bush administration, the middle class squeeze continues unabated. Despite the Bush team's wishful thinking, inflation has already set in with the dollar buying less and less overseas and many currency investors betting heavily against it.

Investment guru Warren Buffett isn't touching the US dollar with a ten foot pole. (Read: Buffett's vote of no confidence in U.S. fiscal policies is up to $20 billion)

Bush and his Republican controlled congress address the problem with eyes wide shut. They continue to run up the national debt, spending today what the next generation will be stuck paying for. To make matters worse Bush wants to make his tax cuts permanent. Heck, Cheney even says that deficits don't matter any more. I guess they don't since Bush's only economic policy seems to be to print more money to cover the debt he's incurred.

Perhaps Bush could explain his plan to the millions of Americans who work all their lives to see their savings accounts and 401K's evaporate with inflation. At least we'll have Social Security to fall back on. Oh, wait, Bush wants to overhall that as well. I'm sure we can trust him to do a good job on that too.

IFK Editor


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