I always felt George W. Bush was different and really not on track of whats truly going on in America. He goes on to speak about the housing bubble, what a joke it is when 1,336 foreclosed homes go up on the market in California and only 17 get sold despite lenders offering deeply discounted prices.
Bush, then goes on to say "This economy is pretty good. There's definitely some storm clouds and concerns, but the underpinning is good, and we'll work our way through this period,"
Bush's comments came as a defense of his economic policy. He also commented that he was concerned about the downturn in the once exploding housing market. He stated That a lot of homes were being built and all of a sudden less people were buying.
I believe that Bush has lost touch with the American people and the economy a long time ago.
I understand working my way out of my own situations, However this situation has been inflicted on all of us. While Bush profits and grows wealthier everyday the average American is struggling to put food on the table.
The economy has done nothing but go on a downward spiral since Bush has been in office. We are at a point now where so much liquidity and business has been taken out of the US economy we may see financial disaster on sharp increase. Lets look at the facts US bank failures on the rise, The decline in home values the worst ever seen since the Great Depression, The Price of food outrageous and let us not forget the price of fuel.
While the mortgage relief package that has been brokered by the Bush administration is likely to help some of those home owners in the future, it just might have come to late.
We all really have been though a lot over the last seven years with Bush in office The war, Our pockets being drained, tax cuts that did nothing but increase our national soaring debt.
At the risk of seeming overly pessimistic,I really doubt we have seen the worst of the economic downturn yet, we should take Bush's comment about storm clouds seriously as a preempt to disaster, You bet!
As Bush says "we'll work our way through this period" I feel we as Americans are going to have to work our way out of Bush it's going to be a very heavy line that all of us Americans are going to have to pull together and work on.