Thursday, September 20, 2007

Bush grades himself, and still manages to get it wrong

A reporter asked “President” Bush this morning whether there was a "risk of a recession."
Bush, as always, refused to answer the question and instead, as always, made a flippant remark that he wouldn't know because he's never been very good at Economics.

Reporter: Do you think there’s a risk of a recession? How do you rate that?

BUSH: You know, you need to talk to economists. I think I got a B in Econ 101. I got an A, however, in keeping taxes low and being fiscally responsible with the people’s money.

Excuse me?? Who says he deserves an 'A' for being “fiscally responsible” with other people's money??? I certainly don't, and I doubt many others think that as well…

In the last few days people have been talking to economists... including one of the most well-known, intelligent and influential economists; former Federal Reserve Chairman Alan Greenspan.

Greenspan is on record of saying that the odds of a recession remain "somewhat more" than one in three. And yet Bush continues to spin his record on fiscal responsibility, never mind the fact that his tax cuts helped create some of the most substantial budget deficits we've had in many, many years.

And how about this from Yale University economist Robert Shiller, an “economist who has long predicted this decade’s housing market bubble would deflate said the residential real estate downturn could spiral into ‘the most severe since the Great Depression’ and could lead to a recession."

And don't even get me started on his grades... I would wager that Bush failed "Alphabet 101" too.

Bush even made light of his grades during another presser today, pointing out that while Secretary of State Condoleeza Rice may have a PhD, she’s still not President of the United States. Instead, Bush, who was a “C student,” is. Said Bush;
"I remind people that, like when I’m with, Condi, I say she’s the Ph.D. and I’m the C student and just look at who’s the president and who’s the adviser."

Ladies and gentlemen, this is indeed a "Presidency of Mediocrity"®


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