President Bush: 'The economy is strong. The economy is strong ... whoops!'
We've heard President Bush say it, seemingly more times than even Google can count: Stop worrying. The American economy is strong. We are going through difficult times, perhaps, but the economy is strong.
Ditto Treasury Secretary Henry M. Paulson Jr. and Ben S. Bernanke, the Fed chairman.
Hmmm.
Throughout 2007, the economy was just great. Well into 2008, it was just great. Matter of fact, it was just great until the $700-billion bailout/rescue/whatever plan came along.
Suddenly, the president had a new message: Start worrying. Congress' failure to approve the plan could put the entire U.S. economy -- and perhaps that of the whole world -- at risk.
"We're facing a choice between action and the real prospect of economic hardship for millions of Americans," the president said Tuesday in one of his early-morning message-to-the-market appearances. "And for the financial security of every American, Congress must act."
CNN's Christine Romans pulled the clips, and pasted together, one by one, the video record.
The Website crooksandliars.com noted: "Either the Bush administration was completely oblivious to the impending financial crisis, or were simply lying to the public."
-- James Gerstenzang
Video
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