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I kind of see this is as part of what is becoming the standard of the Bush administration. He has overseen a lot of things that haven't gone well and now he is just trying to tread water and push everything off until he gets out of office so the next person can deal with it.
The economy has never been all that strong under him and when rates were low and people either bought houses that they couldn't afford or just bought a house when they shouldn't have it helped to artificially prop up the economy. Now those mortgage rates are changing people may lose their homes. There is bound to be a recession of some sorts, but it looks like Bush is doing all he can to put it off. He is trying to bail out sub prime mortgage holders, now another cut in the overall rate will help a little longer. Eventually we are going to have to pay the piper.
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