Is bush's "surge" working?
The surge in home forclosures that is. Bush used to boast about "record home ownership". Now he avoids talking about "record home foreclosures" as hard as McCain tries to avoid being seen with bush.
What about the surge in bank failures? Two more have failed this week, First National Bank of Nevada and First Heritage Bank of Newport Beach California. It’s still a long ways down. There’s an estimated .3 trillion worth of write-downs before we’re done.
What about the surge in oil prices? It was /barrel when he took office. It was at 6/barrel recently.
What about the surge in the national debt. It has nearly doubled to over .5 trillion in the time bush has been in office.
What about the surge in the value of foreign currencies against the plunging US dollar? The Euro is at a record high against the US dollar. Even the Canadian dollar is worth more than the US dollar, which was unimaginable before bush took office.
What about the surge in the cost of living? Median incomes have fallen ,500 since 2000. At the same time, food prices have gone up 75%.
What’s next for America as the bush economy collapses? A surge in taxpayer-backed bailouts of investment banks and mortgage lenders?
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