How bad has Bush been for America?
"The dollar's 41 percent drop against the euro during Bush's term writes the economic epitaph of an administration that set out to restore American preeminence. Instead, Bush heads to Japan next week for his final international summit with diminished leverage as Russian and Chinese influence grows."
"Bush represents the worst-performing economy in the G-8 after Italy"
"America's dependence on imported capital to finance a $9.5 trillion debt -- up from $5.7 trillion when Bush took office -- has driven down the currency. The decline was accelerated by the subprime crisis that plunged the U.S. into an economic tailspin."
"Speaking at the White House yesterday, Bush tried to give the markets a nudge: ``We're strong dollar people in this administration and have always been for the strong dollar.''" WHAAAAAAAAAAAAAAT?
Read the full story from Bloomberg here
Thursday, July 03, 2008
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