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Wednesday, September 24, 2008

Quotes on the economy

George W. Bush, April 20, 2005, at the signing of S.256, Bankruptcy Abuse Prevention, Consumer Protection Act:

Today we take an important action to strengthen -- to continue strengthening our nation's economy. [...] This new law will help make credit more affordable, because when bankruptcy is less common, credit can be extended to more people at better rates.

George Bush, tonight, trying to sell the public on a bailout:

For more than a decade, a massive amount of money flowed into the United States from investors abroad, because our country is an attractive and secure place to do business. This large influx of money to U.S. banks and financial institutions -- along with low interest rates -- made it easier for Americans to get credit.

George W. Bush, December 17, 2007, speaking to the Rotary:

Here's my attitude on housing: one, the government should never bail out lenders....

Barack Obama, September 22, 2008, speaking in Green Bay:

We cannot give a blank check to Washington with no oversight and accountability, when no oversight and accountability is what got us into this mess in the first place.

John McCain, today, as he suspended his campaign:

This morning, I met with a group of economic advisers to talk about the proposal on the table and the steps that we should take going forward.

Bill Allison on who got how much from the financial industry:

...how disinterested are particular members of Congress when they approach this issue?

Jim Harper, Sept. 21, 2008, estimating the cost of a $700 billion bailout:

But here’s the punch line: The bailout will cost about $6,500 per U.S. family, a little over $2,000 per person. The draft legislation would raise the public debt limit to $11.3 trillion dollars. That’s $116,000 per family, or $37,000 per person, in total governmental debt, which is really your debt.

Dan Brekke:

Let's give $25,000 in cash, no strings attached, to each and every American who lives below the federally set poverty line (and no, I don't care what your papers say: if you're here, you're an American). It's a yearly payment until you don't qualify anymore...

Seth Anderson:

Since so much cash got spent for the Iraq War, the financiers must have become jealous, and directed their servants in Washington to give Wall Street a taste.

Sage of Springfield:

We are witnessing a bankers' coup d’etat. In the name of saving the economy from a crisis created by their own greed and immense profits, the biggest bankers have taken a country and a people hostage.

Gene Knox:

The American economy is like the Titanic, with those in the first class sending their gang of enforcers down into the lower decks to shake down the impoverished for all they are worth just prior to abandoning ship.


It's working fine for me. A Democrat administration would hurt my wallet though. I may be the only person, but I love George Bush and think he's done a great job as President and only hope that McCain will be like him.

Posted by Marie at September 24, 2008 9:31 PM


As financial reporter and New York Times columnist Gretchen Morgenson put it on Fresh Air this week, privatizing gains while socializing losses is what it's all about.

Posted by: Tim Russell at September 25, 2008 10:41 AM

Bush seems to subscribe to the Temple of Deliverance motto: "It ain't as bad as it seem!"

Posted by: Brian E. Moore, MD at September 26, 2008 1:56 PM