Bush blames developers for down turn in economy. Says spending $333 million a day in Iraq helps the US economy.
Ann Curry interviewed GW Bush on the Today's Show and suggested Americans were suffering because of the massive spending in Iraq:
Curry: They say we’re suffering because of this.
Bush: I don’t agree with that.
Curry: You don’t agree with that? It has nothing do with the economy, the war, the spending on the war?
Bush: I don’t think so. I think actually the spending in the war might help with jobs.
Curry: Oh, yeah?
Bush: Yeah, because we’re buying equipment, and people are working. I think this economy is down because we built too many houses and the economy is adjusting.
More intelligent wisdom from our great Commander in Chief.
The US economy is doing so well that US banks have been quietly borrowing massive amounts of money, tens of billions from the Federal Reserve in recent weeks. Without this help, financial institutions in the US would be bankrupt.