As George Bush and the Secretary of Treasury continue to push for a "Bailout" they have begun to play the typical Republican language game. They have now started referring to the "Bailout" as a "rescue", as if it is not the same. Now that the vote in the House of Representatives has failed, the politicians are hitting the airwaves casting blame upon each other for the mess that we are in financially. The Republicans as usual are blaming the Clinton Administration. The Democrats are blaming the deregulation by the Republicans. Although the oversight issues and the regulatory issues are easy to see, none of them are blaming the real culprit in this financial meltdown.
The Fiscal Policies of The George Bush Administration and the Iraq War are the reasons that America is in the current financial quagmire. Since the Bush Administration has come into power they have steadily guided the economy along the edge of a recession which began in the first year of the Bush occupation of the White House.
The massive outlays of money to support the senseless invasion of Iraq and the continued occupation of Iraq since 2003 is a major reason why the financial health of the Nation is at stake. Trillions of dollars have gone into the occupation of Iraq. That is trillions of dollars that has been sucked out of the American Economy. There is an economic theory that every dollar spent in a particular place turns into three. For example, the reason that cities fight to be the host of large conventions is because when the conventioneers arrive and spend say 1 million dollars in a city, that 1 million dollars churns throughout that city's economy and is spent three times causing a demand for goods and services valued at three times more than the original dollar as it makes its way through the economy. The same principal occurs on a National level.
If, over the last five years 3 trillion dollars had been spent by the Government in America instead of being squandered in Iraq, that 3 trillion dollars would have had the economic impact of 9 trillion dollars. The Iraq War has effectively sucked 9 trillion dollars out of the pockets and businesses of the American Economy. The result has been that the average American has seen their income drop by over $7,000 since the inception of the Bush Administration. Again the cumulative effect of Americans losing $7,000 per person means that the American Economy has lost $21,000 per person that would have fed the economy. That considers no growth, that is just $7,000 that has been lost from the salary levels of 2000 when this Administration captured the Federal Government.
What if the 10 Billion Dollars a month had been spent in America instead of Iraq? The Economy would have grow, salaries would be higher, retail sales would have grown instead of falling and the economy would have grown exponentially. Not only would we not be in this financial mess but the United States Could have rebuilt its infrastructure, made a major investment in alternative, renewable energy and been way on our way to energy independence, National Health Insurance and record surpluses.
Not only did the senseless invasion of a Sovereign Nation to overthrow an elected regime cost us over 4,009 dead American Military Personnel, and 10's of thousands of wounded and disabled, it has cost us the financial health of our Nation.
George Bush has managed to destroy our Nation on all levels with his stubborn, senseless obsession with Saddam Hussein, and to hand the terrorists the victory that they were seeking. It has always been a goal of the Muslim fundamentalist to bankrupt our Nation, and curtail its freedom. With the help and co-operation of the Republican Bush/Cheney Administration, they have almost succeeded. The final straw will most likely be the bailout, now called rescue, that will insure that the United States will suffer record deficits for decades to come.
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