Thursday, May 11, 2006

POLITICS - Neither Borrower or Lender Be

Well that's one piece of sage advice that G.W. Bush and today's Republican Party don't follow.

"How will history treat the Bush administration?" John Eby, Daily News

According to the Treasury Department, the 42 presidents who occupied the White House between 1789 and 2000 borrowed a combined total of $1.01 trillion from foreign governments and financial institutions.

The Bush White House borrowed $1.05 trillion between 2001 and 2005 alone.

Yup, more than all previous chief executives combined.

George W. Bush inherited the largest federal surplus in American history in 2001 and turned it into the largest deficit ever, with $423 billion of red ink forecast for fiscal year 2006.

Real wages for middle America have eroded since the end of 2003. Last year, on average, wages grew by 2.4 percent. Gains were erased by 3.4-percent inflation.


This from the leader of the Republican Party, the "consecrative" party? Me thinks they have strayed a bit. No, wait a minute! I just figured it out! They just redefined the meaning of being conservative, it now means conserving more money for their rich contributers (aka bosses).

Off-Topic: "Republican strategist Kevin Phillips credits Bush with turning the GOP into the 'first religious party in U.S. history.'"

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