Saturday, April 10, 2004

"I L-O-V-E This Woman!"

OK, maybe that's a bit strong, but you gotta admit this is great stuff...

"One observer likens the Bush economy to the guy who maxed his credit cards, pawned his property, and mortgaged his house and now has "a big wad of walking around money." It is amazing that we haven’t seen more in the media about the financial mess we are in. An unnecessary mess, one created by the very Republican Party once known as conservative, meaning among other things, "restrained in style," "moderate," "cautious."

The mess, in simple terms, is reflected in the fact that Merrill Lynch recently initiated a new monthly report entitled "The Overseas-Funding-of-America Report." The November 27th issue states "It is amazing how many investors still have no idea that America today is more dependent on the rest of the world for capital than at any time in the past fifty years. The US is running a record current account deficit of the order of 5% of GDP and this has to be funded by saving from the rest of the world." Concern about the state of the United States economy has significantly increased during the George W. Bush era, and replacement of Treasury secretaries has done little to reassure serious observers or participants.

A swaggering cowboy with wads of cash eager to buy his friends another couple of rounds doesn’t fit with my image of conservative. Or Webster’s. Things do change. But Republicans today, whether due to party loyalty or really low collective self-esteem, seem afraid to stand up and call out the federal sins of greed, gluttony and sloth.

Domestically, these three sins continue to be embraced lovingly by President Bush and the Republican Congress. This unseemly festival has created a major personal and philosophical challenge for individual Republicans, as they consider the ramifications of another George W. Bush presidency."

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