"Don't make me do 'something' about it... You Don't Want to Go There"

Along with unemployment hitting a 2-year high of 5%, the credit crunch and the housing slump are all indicators a recession is a near certainty we are told regardless if President Bush does anything about it.

“Jobless rate up as Bush considers rescue plan” was the headline in yesterday’s U-T and it struck panic in our hearts as we envisioned Bush doing something retarded like opening up the Federal oil reserves or similar.

Congressional leaders like Barney Frank (D-Mass.) and Charles Schumer (D-NY) certainly think something needs to be done… Frank: “… public policy response is needed to help the economy recover more quickly.” Some impressive Socialist wonk-speak, there.

And Chucky: “If there were ever a shot across the bow to this administration to get off its laissez-faire boat and start helping the economy, this is it.” What… no further lame analogies like “bailing water out the boat” or the “sinking boat” or “a faster-paddling public policy response”…? So many gems left at the ummm… pier.

For his part Bush, is considering a recovery package, the center-piece of which will be…. You got it… Tax cuts! This is so great. The silver lining in this economic downturn is there is now an economic situation by which to put Congress on the spot… a Congress that has already effectively raised our taxes by refusing to extend the Bush tax cuts of ’01 and ‘03 that are set to expire starting within the next calendar year.

As with us, Bush believes tax cuts are the right thing to do but as with us also, we imagine Bush relishing a fight with Congress…. Afterall, they are demanding he do “something”, so here it is. What say ye, Congress?

We look forward to seeing how this will play out, especially with respect to its impact on the Presidential races.

Thanks to B-Daddy for simultaneously posting while we were at Tequila Club AND quelling a near-riot situation at his house last night.