Monday, June 9, 2008

Prescience

Bob Somersby who writes the incomparable Daily Howler blog has a long memory. In today's column, he returns to a Washington Post article written by Katherine Seelye on July 14, 2000:

“Governor Bush wants to do for America what he's done for Texas—go to Washington and spend our surplus and then more for budget-busting tax cuts, and hope then that somehow it will all add up," Mr. Gore asserted. "The last thing this country needs is an era of Bush economics that brings us back to deficits, high interest rates and high unemployment."

Those who might argue that we don't have high interest rates and high unemployment should direct their attention to the Shadow Government Statistics website which estimates unemployment to be about 14% (as of June 6, 2008) and an inflation rate of about 11.5% (as of May 14, 2008).