It ain’t sexy, I know, but a word about the economy and the presidential debate.
Wall Street banks are holding a fire sale; employment is down, holiday sales tanked. Burdened with record debt and stagnant incomes, homeowners are about to reckon with declining home values, their largest investments, with a projected $2 trillion in assets evaporating in the course of the year. Even clueless George — “the fundamentals are strong” — Bush admitted a little stimulus might be needed.
So finally, the r word — recession — hit the presidential campaign trail. In the January Myrtle Beach Republican debate, the candidates were asked what they would do to get the economy going in the event of recession. The answers expose just how preposterous conservatism has become.