One of the most pathetic sights out of Washington this past week was not Alberto Gonzales's smugness but George W. Bush's insistence that the economy is really, really sound after the Dow Jones average plummet some 500 points in the last tow day of the past week. The housing and labor markets are tanking, the stock market is beginning to feel the pressure of a softening economy, and Bush thinks we're toodling along just fine!
Investors bought it - but not for long. After the Dow recovered yesterday, it fell some 140 points late today. Bush's unwarranted optimism isn't only limited to Iraq.
Speaking of which, the Iraqi parliament just went on an August recess. Well, we certainly succeeded in bringing American-style democracy to Baghdad. What's next for these intrepid legislators, pay raises?
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