ER said that if Bush & Co. can manipulate the economy well enough to prevent a collapse before the election the economy might not be in too terrible condition. Conversely, if it went before the election this was going to be a bad depression.

Recently read that the trade deficit is close to a record, the budget deficit the same and that Freddie and Fannie have to be brought into the general budget. Those trillions of liabilities are now competing with funds with Social Security, Medicare and school lunches.

"Time" had an article to the effect that Freddie and Fannie were bailed out to protect foreign markets. They hold so much of those debts that they would have suffered grievously had they been forced to pay for their own folly. That's in line with what the article was saying, that foreign markets are forcing the US to absorb it's own faulty notes.

Now McCain has promised to continue to wage and expand war, is looking at taking on Russia over the Georgia matter, and has also promised to not raise taxes.

McCain could count himself lucky to keep Guanatamo open with enough left over for a few waterboards if he's elected.

Arf