Bush Economy a Weekend at Bernies

The more I listen to the pronouncements coming from President Bush, Federal Reserve Chairman (or is that Comrade) Bernanke, and Treasury Secretary Hank Paulson, the more it feels like I'm watching the movie Weekend at Bernie's.

The President wants to spend 750 billion dollars to buy bad mortgage-related assets, over a two-year period, from financial institutions. This goes along with the yet unknown amount of money for the Fannie Mae and Freddie Mac bailouts. Before that, there was Bear Stearns. Don't forget AIG. Oh yeah, there was the 180 billion that central banks injected into the banking system because of a liquidity crisis where interbank lending ground to a virtual halt.

So now, the same President Bush that brought us Saddam's weapons of mass destruction and mission accomplished - the same president that told us the best way individuals could help fight terrorism was to go shopping - is telling us the economy is going to be OK. Yes, President Bush will drain the financial swamp and punish the evil doers. You're either for the bailouts or you're with the terrorists. Oh wait, that was the first Bush fiasco. The economic fiasco will be worse.

But, don't worry. Keep spending like it's 1929. Whoops, I mean keep spending. Buy a bigger house. Apply for a new credit card. We wouldn't want the terrorists, Wall Street or reality to change our way of life. The economy is fundamentally sound.

And Bernie? He'll be just fine. President Bush has given him a clean bill of health.