CNN reported that Dec. 28, 2005 saw the biggest drop in mortgage applications in 3-1/2 years, a trend that has continued into the first week of the new year. The Bushistas have been insisting that one of the reasons the economy was 'booming' was the vigorous housing market. That excuse can now be deposited in the circular file. Of course, with Treasury Secretary John Snow still apparently addicted to mind-altering drugs, this fact won't inhibit him from continuing to make the case that all is financially rosy under Bush's reign, just as facts haven't impeded his other past happy hallucinations on the economy.
Yes, Capt. Bligh, perhaps you'd rather call it an 'opportunity for small boat navigation,' but to most of us, it's still a 'mutiny.'
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Related Quote
"George, meet Mr. Reality. Yes, there's a boom -- but for whom? You held a Rose Garden press conference to pat yourself on the back about 215,000 jobs. But, one, that barely keeps up with the number of young Americans who entered the job market for the first time that month. And, two, it's not the job, George -- but the wage. Replacing a $35,000 job at General Motors with a $15,000 Wal-Mart job is not counted as progress in middle America.
"Here's some more reality for you. While the overall U.S. economy grew last year, middle-class Americans saw their incomes fall for the fifth year in a row. Yes, George, those are the five years of your presidency."
-- Jim Hightower, "George W.'s Chicken Manure," The Progressive Populist, Jan. 1-15, 2006 issue.
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