Bush on the Economy

It's as if Herbert Hoover has been reincarnated in the body of a Texas yokel.

With the nation's banking system on the verge of collapse, with scores of banks in financial distress, its president calls things "sound." With food and fuel inflation the only things driving economic statistics, the president believes inflation is the same as economic growth.

When the nation needs decisive action it gets "To the extent that we find weakness, we'll move." And consequence immobility. Bush's press conference today was like the captain of the Titanic whistling a jaunty tune while the wheelhouse floods.

We are six months and five days until a new president is inaugurated. The only remaining question is whether the nation will survive until January 20, 2009.