Thursday, July 12, 2007

Another Bush "Success", And the Aftermath

This week President Bush described his forecasted 2007 deficit of roughly $230 billion as a victory, since it bested his earlier 2007 forecast of the deficit. This was another great example of what Bush considers a "victory" - a result just a bit less ugly than a previously ugly expectation.

In 2000, Bush predicted a 2007 surplus exceeding $500 billion. This means that his latest forecast for 2007 is about $750 billion worse than his original prediction. That's a victory? No, it's a tragedy.

Can he blame 9/11 for this failure? No. We have had years to recover, and the economy has rebounded with stock market indexes at high levels. The blame lies with his combination of excessive tax cuts and overspending by his administration and the republican congressional majority of the past six years.

The truth is that Bush has had virtually no successes during his tenure, a fact that the public has come to understand very well - his 30% approval rating is solid proof that the American people have run out of patience with his leadership and with the credibility of those in congress who continue to support him. It's hard to believe that the 2008 elections will result in anything other than major gains by the democratic party.

The bad news about the impending change in government leadership is that the democrats will inherit giant problems left over from Bush - overspending, Iraq, immigration, energy independence, entitlements, and education, to name a few. They will be unable to escape dealing with those problems simply because they were inherited, and they will have to make some very painful choices if the issues are to be resolved. Will the democrats be able to explain these issues to Americans and get their support? The new president's communication skills will be tested to the utmost as he or she attempts to get this nation united behind a package of projects that will rival the New Deal in scope and complexity.

1 comment:

ThomasLB said...

The economy crashed during George H. Bush's administration, and he lost the election to Bill Clinton- but it wasn't really his fault. The recession was the long-predicted consequence of Ronald Reagan's policies.

I think the Democrats will win just in time for George W. Bush's house of cards to collapse, and that will usher in the next disastrous administration.