Wednesday, Feb. 13, 2008 | 2:06 a.m.
Hindsight is usually 20/20. Looking at the Bush economy, I see a house of cards in the rearview mirror. The administration continually touts its low unemployment and low taxes, but at what cost and for how long?
Low unemployment was fueled by spending because of an unrealistic surge in housing, cash and credit advances, and now a loan to taxpayers. This administration looked the other way while unsuspecting and unqualified homebuyers were allowed to purchase what they could not afford.
All this led to expenditures that fueled job growth and credit but in the end unraveled. And now we are again mortgaging the future of our children for the folly of free money.
Yes, taxes are lower than in the Clinton administration, so why do we continue to accumulate a horrendous national debt? Gee, could it be the administration spends too much? Cutting taxes and overspending in the midst of a war is this what our MBA president learned in school? Did he learn anything about economics at all?
George W. Bush has created a house of cards and, as we all know, it’s the house and not the player that has the advantage. Now the winds of change are about to blow the administration’s house down. We can hope only that it isn’t an ill wind or this time we may all be left out in the cold.
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