Inflation Skyrockets On Energy Costs

June Report On Consumer Prices Much Worse Than Expected, Cutting Into Earning Power

(CBS/AP)  Consumer prices shot up in June at the second-fastest pace in 26 years with two-thirds of the surge blamed on soaring energy prices.

The Labor Department reported that consumer prices jumped 1.1 percent last month, much worse than had been expected. Energy prices rocketed upward by 6.6 percent, reflecting big gains for gasoline, home heating oil and natural gas.

The big rise in prices cut deeply into consumers' earning power with average weekly wages, after adjusting for inflation, dropping by 0.9 percent in June, the biggest monthly decline since 1984.

The 1.1 percent June price increase was the second largest monthly advance in the past 26 years, surpassed only by a 1.3 percent gain in September 2005 from a jolt to energy costs after Hurricane Katrina.

Separately, the Federal Reserve reported that industrial output rose 0.5 percent in June, the fastest pace in 11 months. The increase, the highest since a 0.6 percent gain in July of last year, reflected an end to an automotive production strike rather than any widespread strength in the economy.

The report on retail inflation followed similarly grim news on Tuesday that wholesale prices had shot up by 1.8 percent in June.

CBS News correspondent Ben Tracy reports that rising costs are eating into the profits of small businesses, some of which hesitate to raise prices too many times for fear of driving away customers.

At Apple Pan, one of Los Angeles' oldest family-run restaurants, inflation's affecting every part of business.

"Our gas bill, our grocery bill, our produce bill, our meat bill. Everything across the board," said owner Sonny Sherman.

CBS News Early Show anchor Maggie Rodriguez reports a new CBS News/New York Times poll shows that 67 percent of Americans believe that the state of the economy is getting worse, while only 3 percent believe it's getting better.

The news on inflation kept a lid on stock prices, which were trading mixed after one of the largest U.S. banks, Wells Fargo, announced it would raise its dividend.

Federal Reserve Chairman Ben Bernanke told Congress on Tuesday that the Fed was concerned about the threats posed by rising inflation.

Bernanke said that the "upside risks to the inflation outlook have intensified lately, as the rising prices of energy and some other commodities have led to a sharp pickup in inflation and some measures of inflation expectations have moved higher."

Bernanke's comments underscored the bind the central bank is in, caught between a faltering economy that is struggling to overcome a prolonged housing slump and a severe credit squeeze, and the risk that inflation would move higher.

"What happened yesterday was for the first time in history, we had the Treasury secretary, the head of the Fed and the head of the SEC testifying in front of Congress and talking about just how bad things are and just what they think they need to do to make them better," market analyst Art Hogan told Rodriguez.

Many analysts believe that the central bank is likely to leave interest rates unchanged for the rest of the year out of concern that any tightening of credit policy could send the economy into an even worse tailspin.

It's difficult to chart a course when uncertainty abounds, Bernanke said during his second day of Congressional testimony.

"Families are facing hardships ... this is clearly a rough time," Bernanke acknowledged. "It is clear (economic) growth has been slow and the labor market is weak. So conditions are tough on average families."

Over the past 12 months, consumer inflation is up by 5 percent, the largest year-over-year gain since a similar 5 percent rise in May 1991.

Food prices also showed a big increase in June, rising by 0.7 percent, more than double the 0.3 percent increase of May. Vegetable prices shot up by 6.1 percent, the biggest increase in nearly three years.

CBS News correspondent Jeff Glor reports that recent price jumps for consumers don't even count the cost of driving to pick everything up. Gas prices are up 26 percent from this time last year.

Bernanke added in his testimony Wednesday that over the rest of this year, the economy will grow "appreciably below its trend rate" mostly because of continued weakness in housing markets, high energy prices and tight credit conditions.

At the same time, inflation has remained high and "seems likely to move temporarily higher in the near term," Bernanke warned lawmakers.

Core inflation, which excludes energy and food, also showed rising pressures with an increase of 0.3 percent in June, up from a 0.2 percent gain in May and the biggest one-month rise since January.


This increase reflected a 4.5 percent jump in airline ticket prices, the biggest one-month rise for airline fares since March 2000.

Hogan suggests that investors stay calm through the economic turmoil and have patience.

"I think, in general, [investors should] feel safe," Hogan said. "The market has had 11 bear markets and we've survived since World War II - we're going to get through this one as well."

"I think conditions clearly call for a second stimulus," said Rep. Barney Frank, D-Mass., chairman of the Financial Services panel, during Bernanke's testimony.

Democrats in Congress are exploring more economic stimulus efforts to follow up on the $168 billion package, including tax rebates, enacted earlier this year.

Bernanke said it was a "bit premature" to go that route just yet but he didn't rule out such a course of action. He repeated his belief that the most important action Congress could take was to shore up the housing market.

[old300d]

It''s that no good for nothing democrat spend happy congress. If Obama gets elected they will spend even more.

Our govt is spending miney faster than it can print or borrow it. That is the problem.

[taotxzen]

(cont)

%u201CGet married, develop a hobby, learn to belly dance, learn to golf %u2014 you know, we got two years free, but we gotta spend time and effort playing defense here,%u201D Norquist said. %u201COur job is to say %u2018no, no, no, no%u2019 for two years.%u201D

Norquist predicted, %u201CPeople are gonna go, %u2018oh maybe this bill isn%u2019t as bad as it looks.%u2019%u201D But he warned, %u201D Don%u2019t eat it, don%u2019t swallow it, don%u2019t touch it. Nothing good passes this Congress.%u201D

Transcript:

NORQUIST:Nothing good happens in the next two years out of this Congress. Nothing good.

If you read in the newspaper that there%u2019s a bill with a nice sounding name, and it sounds in the first sentence like the bill is good, you haven%u2019t read the whole bill.

Nothing good happens. They%u2019re not going to cut taxes.

(APPLAUSE)

Look, get married, develop a hobby, learn to belly dance, learn to golf %u2014 you know, we got two years free, but we gotta spend some time and effort playing defense here.

Because the Democrats are going to be like young men on prom dates %u2014 they%u2019re gonna keep asking the same question of us over and over and over again. And our job is to say %u201Cno, no, no, no%u201D for two years.

Nothing passes in this Congress.

[old300d]

It''s that no good for nothing democrat spend happy congress. If Obama gets elected they will spend even more.

Our govt is spending money faster than it can print or borrow it. That is the problem.

[old300d]

It''s that no good for nothing democrat spend happy congress. If Obama gets elected they will spend even more.

Our govt is spending money faster than it can print or borrow it. That is the problem.

[taotxzen]

(cont)

Grover%u2019s Vision:

An America in which the rich will be taxed at the same rates as the poor, where the minimum wage is repealed, unions are made irrelevant, and law-abiding citizens can pack handguns in every state and town. "My ideal citizen is the self-employed, homeschooling, IRA-owning guy with a concealed-carry permit," says Norquist. "Because that person doesn''t need the godd@mn government for anything."

Norquist is famous for saying, "I don''t want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub." His plan is for the federal government to amass massive debt without increasing taxes on the rich, if the federal government is mired in huge debt it can no longer fund social programs of any kind.


Norquist Plans Conservative Agenda:

At the Conservative Political Action Conference, right-wing activist and anti-tax crusader Grover Norquist urged conservatives not to work to accomplish anything in the current Congress.

(cont)

[old300d]

Look how fast they spend it with GWB and a democrat congress.

McCain is our only hope to get the spending under control ! ! !

[taotxzen]

Grover Gets His Wish

Who is Grover Norquist?

In 1999 Grover Norquist was instrumental in securing early support for then Texas Governor George W. Bush, continuing a decades-long association with Karl Rove. ("The Wall Street Journal''s John Fund dubbed him "the Grand Central Station" of conservatism and told The Nation: "It''s not disputable" that Norquist was the key to the Bush campaign''s surprising level of support from movement conservatives in 2000"). After Bush''s election to the White House in 2000, Norquist was the prime architect behind the many Bush tax-cuts.

The "Wednesday Meeting" of Norquist''s Leave Us Alone Coalition has become an important hub of conservative political organizing. George W. Bush began sending a representative to the Wednesday Meeting even before he formally announced his candidacy for president in 1999. "Now a White House aide attends each week," reported USA Today in June 2001. "Vice President Cheney sends his own representative. So do GOP congressional leaders, right-leaning think tanks, conservative advocacy groups and some like-minded K Street lobbyists. The meeting has been valuable to the White House because it is the political equivalent of one-stop shopping. By making a single pitch, the administration can generate pressure on members of Congress, calls to radio talk shows, and political buzz from dozens of grassroots organizations.

(cont)

[taotxzen]

Phil Gramm obviously had the quote of the week. Voters dealing with skyrocketing gas prices and collapsing home values just love being called "whiners" by a millionaire. This kind of out-of-touch condescension comes as no surprise to anyone who has followed Gramm''''s career. He''''s left his fingerprints on some of the worst economic debacles in U.S. history. He was a champion of energy deregulation, which gave us Enron and blackouts and price gouging. He was a champion of deregulating the savings-and-loan industry, the bailout of which cost taxpayers hundreds of billions of dollars. And his leadership on banking deregulation helped create the current sub-prime mortgage crisis. Republicans love to talk about Obama''''s lack of experience. I''''ll take fresh blood over Gramm''''s kind of track record any day of the week.

The Huffington Post

[stevex47]

Um, Old300

Your king and cronies have had control for the last 8 years. Pleas explain how the democrats are to blame.

And if the democrats are to blame, are you saying the republicans are too inept to do anything about it?

[wdrussell1]

**Over the past 12 months, consumer inflation is up by 5 percent, the largest year-over-year gain since a similar 5 percent rise in May 1991.**

That was when there was another Bush in office.

[Gary Kempf]

GOP_forever ;
Have you been eating the special girl scout cookies????

[inventagod2]

Worst President Ever.

Enjoying thet oil war?

[daysrnumbrd]

navpro, I told you I never bought those. I did however buy some cakes at the annual Pioneer Girls bake sale over the years. The cakes were made in the presence of nuns so no naughty ingredients would have been used.

Posted by GOP_forever at 11:28 AM : Jul 16, 2008
.............

You must be a real bore at a party!

LOL!

[jtdev1]

Hopefully Bush can tame the inflation problem that was caused by Clinton. Its too bad all of Bushs time has been spent trying to fix problems caused by Clinton.


------------------------------------------


If this is true, then God Help the next President. Can you imagine trying to clean up the messes Bush has made???

[darnedsocks]

WHERE DO THEY GET THESE LAME FIGURES OF 1.1% JUMPS? OKAY, IF YOU TAKE A 12-ROLL PACK OF CHARMIN TOILET PAPER; WHICH USED TO BE LIKE $7 LAST FALL AND IT IS NOW $12...HOW DO YOU COME UP WITH A 1.1% INCREASE? LET''S TAKE ANOTHER EXAMPLE: IF YOU TAKE A BIG BOTTLE OF LISTERINE THAT USED TO BE $4.50 A BOTTLE AND IT SUDDENLY JUMPS TO $7.50 A BOTTLE....AGAIN, HOW DO YOU COME UP WITH A 1/1% INFLATIONARY INCREASE?

NOW, LET''S MULTIPLY 50 ITEMS IN YOUR GROCERY CARD BY AND AVERAGE OF $2. THAT EQUALS AND EXTRA $100.00 EVERY TIME YOU GO TO THE GROCERY STORE.

DON''T TELL ME THE INFLATION IS JUST 1.1%! THAT IS THE BIGGEST LARD OF B.S. I''VE HEARD IN QUITE A WHILE!

[darnedsocks]

WHERE DO THEY GET THESE LAME FIGURES OF 1.1% JUMPS? OKAY, IF YOU TAKE A 12-ROLL PACK OF CHARMIN TOILET PAPER; WHICH USED TO BE LIKE $7 LAST FALL AND IT IS NOW $12...HOW DO YOU COME UP WITH A 1.1% INCREASE? LET''''S TAKE ANOTHER EXAMPLE: IF YOU TAKE A BIG BOTTLE OF LISTERINE THAT USED TO BE $4.50 A BOTTLE AND IT SUDDENLY JUMPS TO $7.50 A BOTTLE....AGAIN, HOW DO YOU COME UP WITH A 1/1% INFLATIONARY INCREASE?

NOW, LET''''S MULTIPLY 50 ITEMS IN YOUR GROCERY CART BY AND AVERAGE OF $2. THAT EQUALS AND EXTRA $100.00 EVERY TIME YOU GO TO THE GROCERY STORE.

DON''''T TELL ME THE INFLATION IS JUST 1.1%! THAT IS THE BIGGEST LARD OF B.S. I''''VE HEARD IN QUITE A WHILE!

[dronemonk]

This bout of inflation is by our wealthy masters'' design. It is a hidden tax, and it is being done to us willfully and intentionally.

[xmanborg]

Posted by inventagod2 at 11:29 AM : Jul 16, 2008

Worst President Ever.


I so agree with you and the worst Vice President also. The Worst Administration in US history and President Do Nothing Bushie who is so frackin stupid to do anyting has passed all his DIRT AND MISTAKES on to the next Administration.

GOOD RIDANCE TO ALL THE BUSHIES AND CHENEYS.

[darnedsocks]

THE AMERICAN PUBLIC IS BEING CRUNCHED TO COME UP WITH AN EXTRA $400 / MONTH (IF YOU''RE SINGLE) AND A MINIMUM OF $1,000 EXTRA A MONTH IF YOU HAVE A FAMILY -- JUST FOR GROCERY STORE PRODUCTS. ...NEVERMIND THE AVERAGE INCREASE OF $250 TO $400 / MONTH IN FUEL EXPENSES FOR DRIVING TO WORK. WHERE THE "F" IS ALL THIS MONEY SUPPOSED TO COME FROM? THESE CONDITIONS ARE THOSE IF A "DEPRESSION" NOT A "RECESSION"...OH, BY THE WAY, A "DEPRESSION" IS A "RECESSION" THAT LASTS FOR MORE THAN ONE YEAR.

[darnedsocks]

WHERE DO THEY GET THESE LAME FIGURES OF 1.1% JUMPS? OKAY, IF YOU TAKE A 12-ROLL PACK OF CHARMIN TOILET PAPER; WHICH USED TO BE LIKE $7 LAST FALL AND IT IS NOW $12...HOW DO YOU COME UP WITH A 1.1% INCREASE? LET''''''''S TAKE ANOTHER EXAMPLE: IF YOU TAKE A BIG BOTTLE OF LISTERINE THAT USED TO BE $4.50 A BOTTLE AND IT SUDDENLY JUMPS TO $7.50 A BOTTLE....AGAIN, HOW DO YOU COME UP WITH A 1.1% INFLATIONARY INCREASE?

NOW, LET''S MULTIPLY 50 ITEMS IN YOUR GROCERY CART BY AND AVERAGE OF $2. THAT EQUALS AND EXTRA $100.00 EVERY TIME YOU GO TO THE GROCERY STORE.

DON''T TELL ME THE INFLATION IS JUST 1.1%! THAT IS THE BIGGEST LARD OF B.S. I''VE HEARD IN QUITE A WHILE!

[jtdev1]

GOP_forever

You can stick your "terrorist" where the sun don''t shine..


(and take your head out of there while your at it)



Everything Bush has done is a mess...

[ofbyfor1]

It''''s that no good for nothing democrat spend happy congress. If Obama gets elected they will spend even more.

Our govt is spending miney faster than it can print or borrow it. That is the problem.

Posted by old300d at 10:45 AM : Jul 16, 2008

When things went wrong with Clinton in the WH with a Republican-held Congress, you blamed the President. (Hmm, what type of majority did the Republicans have then, compared to the so-called ''majority'' the Dems have now?)

Now that we have a Republican President ans a (barely) Democratic-held Congress, all of the sudden everything is Congress'' fault.

PS--the economy was MUCH better under Clinton.

[ofbyfor1]

GOP_forever

You can stick your "terrorist" where the sun don''''t shine..


(and take your head out of there while your at it)



Everything Bush has done is a mess...


Posted by jtdev1 at 12:01 PM : Jul 16, 2008

Agreed, but just FYI, GOP_Forever is a troll, just trying to get a reaction. I believe he used to go by the moniker ''Faith_in_W''.

[theroo4]

Bush hasn''t created any messes? Are you insane? Everying he''s done has been for the benefit of us? Are you kidding? Do you have a brain tumor??

[jtdev1]

GOP_forever

and when is he going to do that? Still waiting...


PS - wealthy people don''t go around telling others they are wealthy... your cover is blown...

[lovegetpeace]

Posted by ofbyfor1 at 12:02 PM : Jul 16, 2008

IF YOU DO NOT WISH FOR GOVERNMENT TO PRINT MORE WORTHLESS DOLLARS, THEN LET''S RAISE TAXES SO THIS BANKRUPT GOVERNMENT GETS THE REVENUE IT NEEDS TO INVEST IN THE FUTURE OF AMERICA.

FACTS:
Action: 1993 - Massive Tax Increase
Result: 1999 and 2000 - Massive Surpluses

Action: 2001 and 2003 - Massive Tax Cuts
Result: 2008 - 4th Great Depression

[credibility2]

As taxpayers, we''re all going to have to pay for the bailouts of Bears Stearns, Indymac, Freddie Mac and Fannie Mae. The government bailouts are taxpayers handouts for these egregious players in our economy. Blame many consumers as well for living well beyond their means. The plastic economy many have created is melting.

[lovegetpeace]

ex-President Carter was much better than President Bush. Official - President Bush is the Worst President Ever.

Carter wants to know how Bush created Stagflation?

[stn_sage]

WHERE DO THEY GET THESE LAME FIGURES OF 1.1% JUMPS? OKAY, IF YOU TAKE A 12-ROLL PACK OF CHARMIN TOILET PAPER; WHICH USED TO BE LIKE $7 LAST FALL AND IT IS NOW $12...HOW DO YOU COME UP WITH A 1.1% INCREASE?
Posted by darnedsocks at 11:52 AM : Jul 16, 2008
--------------------------------
My response:

1. Neither Bush, Cheney, or the GOP counts very well, they call it ''fuzzy math''! Because THEY know it''s a helluva lot more than 1.1%! But, they hope by using a nonsensical term it will seem more complicated than it really IS! The senior Bush called it ''smoke and mirrors'' and younger calls it ''fuzzy math'', it means screw the public!

2. A couple more months of these "1.1%" increases, and a large percentage of the public is going to be screaming ''rape''!

3. You have the right attitude, though! Think for yourself. This administration hasn''t gotten anything right, yet---least of all their economic reports!
Bernanke still doesn''t know we''re in a recession!
He''s an idiot, too!

Well, come November decide for yourself whether any Republicans deserve to be re-elected! Or, do-nothing Democrats like Nancy Pelosi, for that matter!

[briannorwood]

lovegetpeace:

You are so right! If you look at the root cause of the soaring inflation, it is clearly tied to the falling dollar. If the dollar was as strong as it was before George W. Bush destroyed the economy, oil would be about $70 and inflation would be halved.

By running up the largest deficits in history, the value of the dollar is weak.

So, if you ask if it matters who is President, the answer is unequivally YES!

[donbl1]

Almost all the inflation is due to demand exceeding supply:

1. US conservation is being consumed by India and China thus excess is less than 200K b/d. US demand has actually been flat to down over the past year. Transportation costs in the US are driving up all commodities.
2. Ethanol policy has been a disaster. Ethanol to replace oil has caused almost all food prices to increase.

Good ad from T. Boone Pickens that the cost of imported oil is 4 times the cost of the war..........

[ofbyfor1]

IF YOU DO NOT WISH FOR GOVERNMENT TO PRINT MORE WORTHLESS DOLLARS, THEN LET''''S RAISE TAXES SO THIS BANKRUPT GOVERNMENT GETS THE REVENUE IT NEEDS TO INVEST IN THE FUTURE OF AMERICA.

FACTS:
Action: 1993 - Massive Tax Increase
Result: 1999 and 2000 - Massive Surpluses

Action: 2001 and 2003 - Massive Tax Cuts
Result: 2008 - 4th Great Depression

Posted by lovegetpeace at 12:05 PM : Jul 16, 2008

Agreed. When the middle class gets soaked, the economy tanks and EVERYBODY goes down. When the wealthy ''get soaked'' (yeah, right), the ecomony rarely tanks? Why? Could it be that they already have mucho dinero in EXPENDABLE income (whereas the middle class does NOT)?

[ofbyfor1]

This administration hasn''''t gotten anything right, yet---least of all their economic reports!
Bernanke still doesn''''t know we''''re in a recession!
He''''s an idiot, too!

Well, come November decide for yourself whether any Republicans deserve to be re-elected! Or, do-nothing Democrats like Nancy Pelosi, for that matter!

Posted by stn_sage at 12:09 PM : Jul 16, 2008

This administration couldn''t be truthful with the public if their lives depended on it.

[actornaught]

Yacht sales are booming.

[theroo4]

Honesty and integrity in the White House? Then why were the energey meetings so secret? Why do they want to not release documents EVER? Why do they refuse to comply with congressional subpoenas? Afraid they might get caught lying under oath. These clowns should all be in jail!

[lovegetpeace]

Americans must Sacrifice to Save this bankrupted Government.

Per an Ideology, in attempting to reduce if not eliminate Government, NeoCons have destroyed America.

Lesson Learned: America needs a functional funded effective Government.

[ofbyfor1]

Posted by rharrin1 at 12:11 PM : Jul 16, 2008

GOP is a troll.

[donbl1]

oby, your "facts" are not facts...... they are opinions and academically incorrect.

The Republican Congress in the 90''s forced a balanced budget and reduced welfare spending. In addition, we had the .com bubble which caused higher currency flow but which resulted in the recession that started the last year of Bubba''s reign....

We are not in the 4th Great Depression. When we get to 20% unemployment we would be in Depression.

[lovegetpeace]

Hey donbl1,
"We are not in the 4th Great Depression. When we get to 20% unemployment we would be in Depression."

THANK YOU VERY MUCH FOR VALIDATING MY POINT!

I am sure you do not understand what I mean since you love your party more than you love your country.

[ofbyfor1]

We are not in the 4th Great Depression. When we get to 20% unemployment we would be in Depression.


Posted by donbl1 at 12:13 PM : Jul 16, 2008

Technically speaking, you may be correct. But if you look at the financial situation of the average Joe, we are much worse off than the numbers by themselves of the overall economy would suggest. The numbers are ''inflated'', so to speak, by the fact that the wealthy are making larger financial gains than the middle class. Most middle-class folks are hurting more than they have been in decades.

Also, as I''m sure you know, unemployment figures do not reflect those who no longer qualify for benefits (but who may still be out of a job. Nor do they reflect the number of people who are underemployed.

[arnldmartin]

Core inflation excludes ENERGY and FOOD.I don''t know, but being able to drive to work to get money to put food on the table is pretty CORE to me,isn''t it to you? Why should it be excluded!!!DUH!

[lovegetpeace]

Hey donbl1,
"We are not in the 4th Great Depression. When we get to 20% unemployment we would be in Depression."

THANK YOU VERY MUCH FOR VALIDATING MY POINT!

I am sure you do not understand what I mean since you love your party more than you love your country. True love is blind.

[whitemale08]

I would rather have President Jimmy Carter throw on a sweater, turn the thermosat down and come out and tell us the truth about this economy.

The American people would tell you that inflation is WORSE then it was back in 70''s.

I lived through the 70''s under Jimmy Carter and the economy was BOOMING in comparison to this garbage economy under Republican George W. Bush.

Back then people liked to save their money because banks paid good interest rates.

Was it tough to come up with a 20% downpayment on a home? You bet, but it forced people to save and do it the right way for a more stable economy.

I HATE THIS ECONOMY !!!

I wish it was constitutionally possible to put Jimmy Carter back in the White House and kick George W. Bush out!!!

[singingrick]

donbl1


You are rewriting history to support the failed policies of a failed ideology. Clinton went head to head with Congress to balance the budget. Clinton reduced the size of government and reformed welfare.

In stark contrast, the last three Republican Presidents are responsible for 70% of the 9.5 trillion dollar national debt. Bush 2 has nearly doubled the debt by himself. How do they do it? They lower taxes on the rich and go crazy with the national credit card.

[actornaught]

...Why should it be excluded!!!DUH!
Posted by arnldmartin at 12:19 PM : Jul 16, 2008

It''s a ''con strategy exemplified by reagan, such as when he forced employment stats to begin including military. When the results aren''t going their way, they change the rules.

Just as the fundamental reason the economy is in trouble, the underlying strategy of the ''cons is the Big Quick Money Grab.

Has D!ck gotten his villa in Dubai ready?

[lovegetpeace]

Hey donbl1,

"The Republican Congress in the 90''''s forced a balanced budget and reduced welfare spending...."

Government spending increased the most in the history of American from 1995 to 2006. So not to touch a weak nerve, I will not state which party controlled Congress during this period.

[lemonskink]

Georgie Bush failed in every business venture his Daddy set up for him. Every single one. When the Supreme Court said he could be President, it was like a kid in a toy store. He used the military as his toy soldiers, he destroyed a vibrant economy, and along with Cheney worked to help the oil companies over maximize profits in order to strong arm the citizens into opening up more land for oil exploitation. These guys are criminals people. Wake up.

[lovegetpeace]

Hey donbl1,

"The Republican Congress in the 90''''''''s forced a balanced budget and reduced welfare spending...."

Government spending increased the most in the history of American from 1995 to 2006. Even with this increase, we had Massive Federal Budget Surpluses in 1999 and 2000 thanks to the Tax Increase of 1993 when Republicans did not controlled congress. Clinton got the budget passed with just 1 Republican vote in 1993.

[lovegetpeace]

Cutting Taxes and Creating Wars mean Mounting Federal Debts which means Cheaper Dollar which means more Expensive Oil. Proven Economic 101 Theory. All we need now is the 4th Great Depression.

[lovegetpeace]

I ask all the NeoCons on this Forum to continue to Think, Believe, Say, Write and Do exactly as in the last 13 years. PLEASE, I AM BEGGING YOU! I LOVE ALL THE NEOCONS JUST LIKE donbl1 WHO ARE MAKING MY DREAMS COME TRUE!