Thursday, December 16, 2004

Weak Assurance

Despite four years of hard evidence to the contrary, CNN is now reporting that George W. Bush supports a strong dollar policy! And not only that, but apparently he's willing to reduce deficits to do it!

You'll have to forgive me if this sets off my BS alarm just slightly. Bush has had four years in office, and he's never once intervened to try and stop or even slowdown the mountains of red ink that currently deluge our budget. And as for alternative methods of strengthening the dollar, CNN notes:
Some economists believe that the administration, while publicly professing support for a strong dollar, actually prefers the decline in the greenback's value against other currencies as a way of dealing with the country's huge trade deficit.
Despite White House expressions of support, the administration has not taken action to prop up the dollar. During Bush's four years in office, not once has the administration intervened in currency markets to support the dollar or done anything else to stop the dollar's slide.

So we're left with an all too common conclusion: Bush is saying one thing and doing another, to dodge having to make the tough and politically painful decisions that come with responsible governance.

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