Atlas Shrugged: The Mocking

Tuesday, January 20, 2009

What Megan Won't Tell You

The Big Picture has a concise summary of Time's list of Bush's economic mistakes. There is nothing new here, but it's interesting to see them laid out like this.

1. The Return to Deficits: Bush’s tax cuts and spending increases — and clear disdain for the pay-as-you-go approach that had brought deficits down in the 1990s — brought a return to permanent deficits.
2. Iraq: Even if you think the war did bring benefits to the U.S., they would have to be pretty gigantic to justify the costs of $1-3 trillion dollars;
3. Tax Cuts for the Rich: Bush came to Washington facing almost diametrically opposing economic conditions, yet he offered up the same solutions as Reagan.
4. Financial Regulation: What is true is that most Bush-era financial regulators were less than enthusiastic about the very act of regulating, and that Bush’s “ownership society” push glossed over a lot of potential dangers.
5. Telling Us to Go Shopping: After the 9/11 terrorist attacks, President Bush didn’t call for sacrifice. He called for shopping.
6. Energy Policy: Not much to say here, except that there wasn’t an energy policy.
7. A State of Denial: Every Administration spins and sugarcoats the economic truth. But the Bush White House took this disingenuousness to new levels.8. The Muddled Bailout: The main problem has been the ambivalence with which both Paulson and the White House have approached the financial rescue.

Every item is an example of uncontrolled greed. It's not the greed of a child before a bowl of candy. It is a wild, shrieking thing, that devours with open mouth and flashing teeth, grabbing and clawing through everything it touches, leaving blood and misery in its wake. It destroyed our economy and killed our friends and relatives. For money, and all the things money can buy.

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