Bush Almost Admits Recession; Can Global Warming Be Far Behind?

After losing 63,000 jobs in the 29-day month of February, the current occupant was finally forced to admit there’s a problem with the economy. Gee, the total collapse of the housing market, the weakest dollar in modern times, and consumer confidence at 33 percent might be good indicators too.

“Turn out the lights. The party’s over. We are in a recession,” said the chief U.S. economist at IDEAglobal

“Losing a job is painful and I know Americans are concerned about our economy. So am I,” Bush said during a hastily arranged White House appearance on the heels of a gloomy government economic report that said employers slashed jobs by 63,000 in February, the most in five years.

The Labor Department’s report, released Friday, also showed that the nation’s unemployment rate dipped to 4.8 percent as hundreds of thousands of people — perhaps discouraged by their prospects — left the civilian labor force. The jobless rate was 4.9 percent in January.

Bush’s idiotic solution — sinking us deeper in debt by issuing everyone a tax rebate — isn’t seen by anyone with the sense God gave celery as a cure.

“Turn out the lights. The party’s over. We are in a recession,” said Joseph Brusuelas, chief U.S. economist at IDEAglobal in New York.

Don’t count on debt-laden households to spend their way back to growth. As for banks, they are preoccupied with cleaning up their balance sheets after seven months of credit turmoil, which means they are unlikely to throw open the cash spigots. The federal government is mired in debt as well.

Like I said, no one with any sense would think a tax rebate will do anything but deepen the hole we’re in. But Bush is a one-trick pony. Got a problem? A tax cut must be the answer.

“I know this is a difficult time for our economy,” he said. “But we recognized the problem early and we provided the economy with a booster shot.”

Congress passed and Bush signed a stimulus package that will send tax rebates to many families and businesses. But some fear it will come too late – or that people will use the money to save or pay off debt, rather than go on a spending spree that will boost the economy.

Bush gently urged people to do the latter. “When the money reaches the American people, we expect it to boost consumer spending,” he said.

Sorry Georgie. I’m putting it toward my car payment. The sooner I pay that off, the more I can put against my mortgage.

How about you? Are you planning to buy more cheap crap from China with your tax rebate or pay down your debt? Leave a comment; I’d like to know.

11 Responses »

  1. c March 7, 2008 @ 4:20 pm

    ALMOST ADMITS IS RIGHT!!!—REMEMBER the BASTARD CAN’T LIE for if he said it was RECESSION THE BASTARD WOULD BE LYING!!!!—KNOW WHAT the fact is THE BASTARD JUST DOES NOT KNOW HOW TO TELL THE TRUTH!!!!!—–WE ARE IN A RECESSION and HEADING for a DEPRESSION!!!!!—–LOOK ! – 63,000 JOBS LOST LAST MONTH!!!!!—-CLINTON HAD 22 million people working! — THIS PRICK IS SEEING TO IT THAT 22 MILLION ARE LAID OFF!—LOOK AT THE GAS!–HE COULD STOP THIS by a CEILING PRICE????—BUT HELL NO!—-THEN HIM AND CHENYS GAS DOLLARS WOULD NOT BE COMING IN FAST ENOUGH for they only have A FEW MORE MONTHS TO BLEED US TO DEATH!—-I SAY IMPEACH THE DAM BASTARDS and PELOSI TOO FOR NOT PUTTING IMPEACH ON THE TALBE—–AND DOING IT!!!!!!

  2. Bryan Talbot March 7, 2008 @ 7:22 pm

    I’ll use it for debt, and maybe a six-pack of good beer to cheer up slightly.

  3. a Nuffer March 8, 2008 @ 5:51 am

    Any idiot with a brain, Bush is the top idiot, will pay their bills
    with the give-a-away. People will buy food, gas, pay down credit and possibly stave off foreclosure for one more month! But when you go to do your taxes in 2009
    you have to deduct it from your return. Duh!!! Pelosi and Reid should be kicked out of office for not pushing impeachment of the whole administration! I have changed my voter registration to independent.

  4. Dr. Woo March 8, 2008 @ 9:39 am

    I’m sending the entire rebate directly to the Obama X or Clinton campaigns. That will really make their heads gyrate. And, to further add insult to injury for the D.C. putz’s in control, I’ll write it off as a contribution on next years taxes.

  5. Chris March 8, 2008 @ 10:08 am

    Car repairs here.

  6. GarryInNola March 8, 2008 @ 10:16 am

    I’ll try to pay down my debt. I try to pay off my credit cards, but as soon as I make some progress, something comes up and I HAVE to charge it (car repairs, medical bills). So I can’t seem to make any progress. Anyone else out there that can identify with that?

  7. SteveGA March 8, 2008 @ 10:38 am

    This jackass firmly believes that as long as he says something, then it must be true. Why his sorry ass isn’t sitting in front of an impeachment committee is beyond me. He’s not qualified to run a damn CAR WASH, let alone the USA.

  8. goodgirlroxie March 8, 2008 @ 10:41 am

    Wouldn’t it be interesting read an analysis of the effect this stupid “middle class” tax rebate will have on our economy vs. the effect a closing of tax loopholes that benefit million-dollar buyout industry executives coupled with making KBR pony up the hundreds of millions of dollars so far they’ve managed to avoid paying toward our Medicare and Social Security taxes, by setting up shell companies in the Cayman Islands and elsewhere.

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  10. a president bush defender March 9, 2008 @ 10:16 pm

    i love all you raging, commy, liberals that have noooo idea what you’re talking about. have there been presidents better than bush? yes…but there have been far worse ones too. i think it is idiotic and senseless to base opinions about the state of our economy on whether or not you personally like the president. pick up a freakin’ book and learn something before you open your mouths and stupid falls out. remember that bush doesn’t make these decisions all by his lonesome. many many people get together to try to solve the prolem, and hating the president doesn’t solve anything. he’s just doing his job and saving face. maybe some of you should spend less time writing these stupid blogs and actually do something constructive with your time…but then you wouldn’t be able to bitch and complain 24/7…right? that’s what i thought.

  11. Madison March 10, 2008 @ 10:13 am

    Bush-lover – it’s you worshipers of George Bush who put your adoration of this incompetent lunkhead above your love of your country.

    If a Democrat had taken the country to war based on lies, borrowed a trillion dollars from the communist Chinese to pay for the occupation of Iraq, lost an entire American city after Katrina, trashed the economy while handing over billions to his corporate buddies like Halliburton and let his cronies at the oil companies drive up the price of gas to $4, you’d be screaming for his head.

    And now you’re so blinded by your worship for Bush that claim it’s not his fault, that “he doesn’t make decisions all by is lonesome.” He said he was “the decider,” so I guess you’re calling him a liar.

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