Current Events
Like the end of "major combat operations" and Iraq's "imminent threat", conservatives may rue declaring the start of the "Bush Boom." This quarter could easily be a false dawn once again of temporary growth followed by another drop. Given the economic steroids being injected into the economy in the form of low interest rates and massive deficits, it's hard to take seriously celebration over one quarter of growth, especially with the pathetic job creation. If this is all Bush can generate maxxing out the public credit card to inject money into the economy, it means the underlying economy-- without the artificial stimulants -- is truly sad. As Lloyd Bentsen once said of the Reagan "boom", "You know, if you let me write $200 billion worth of hot checks every year, I could give you the illusion of prosperity too."
