Fnord.

What do the mayor of Salt Lake City and Nobel-winning economist Joseph E Stiglitz have in common? They both despise Mr Bush.

Let’s start with the mayor, shall we?

“You have acted in direct contravention of values that we, as Americans who love our country, hold dear. You have deceived us in the most cynical, outrageous ways. You have undermined, or allowed the undermining of, our constitutional system of checks and balances among the three presumed co-equal branches of government. You have helped lead our nation to the brink of fascism, of a dictatorship contemptuous of our nation’s treaty obligations, federal statutory law, our Constitution, and the rule of law.”

“Because of you, and because of your jingoistic false ‘patriotism,’ our world is far more dangerous, our nation is far more despised, and the threat of terrorism is far greater than ever before.
…
As United States agents kidnap, disappear, and torture human beings around the world, you justify, you deceive, and you cover up. We find what you have done to men, women and children, and to the good name and reputation of the United States, so appalling, so unconscionable, and so outrageous as to compel us to call upon you to step aside and allow other men and women who are competent, true to our nation’s values, and with high moral principles to stand in your places - for the good of our nation, for the good of our children, and for the good of our world.”

In the case of the President and Vice President, this means impeachment and removal from office, without any further delay from a complacent, complicit Congress, the Democratic majority of which cares more about political gain in 2008 than it does about the vindication of our Constitution, the rule of law, and democratic accountability.

It means the election of people as President and Vice President who, unlike most of the presidential candidates from both major parties, have not aided and abetted in the perpetration of the illegal, tragic, devastating invasion and occupation of Iraq. And it means the election of people as President and Vice President who will commit to return our nation to the moral and strategic imperative of refraining from torturing human beings.

Now, I’ve not been to SLC in a couple of years, but I don’t remember it as a hotbed of left-wing liberalism.

Now from an astounding article in Vanity Fair by Stiglitz. Remember, this is an economist:

Up to now, the conventional wisdom has been that Herbert Hoover, whose policies aggravated the Great Depression, is the odds-on claimant for the mantle “worst president” when it comes to stewardship of the American economy. Once Franklin Roosevelt assumed office and reversed Hoover’s policies, the country began to recover. The economic effects of Bush’s presidency are more insidious than those of Hoover, harder to reverse, and likely to be longer-lasting. There is no threat of America’s being displaced from its position as the world’s richest economy. But our grandchildren will still be living with, and struggling with, the economic consequences of Mr. Bush.
…
All of this spending made the economy look better for a while; the president could (and did) boast about the economic statistics. But the consequences for many families would become apparent within a few years, when interest rates rose and mortgages proved impossible to repay. The president undoubtedly hoped the reckoning would come sometime after 2008. It arrived 18 months early. As many as 1.7 million Americans are expected to lose their homes in the months ahead. For many, this will mean the beginning of a downward spiral into poverty.

Between March 2006 and March 2007 personal-bankruptcy rates soared more than 60 percent. As families went into bankruptcy, more and more of them came to understand who had won and who had lost as a result of the president’s 2005 bankruptcy bill, which made it harder for individuals to discharge their debts in a reasonable way. The lenders that had pressed for “reform” had been the clear winners, gaining added leverage and protections for themselves; people facing financial distress got the shaft.
…
Some portion of the damage done by the Bush administration could be rectified quickly. A large portion will take decades to fix—and that’s assuming the political will to do so exists both in the White House and in Congress. Think of the interest we are paying, year after year, on the almost $4 trillion of increased debt burden—even at 5 percent, that’s an annual payment of $200 billion, two Iraq wars a year forever. Think of the taxes that future governments will have to levy to repay even a fraction of the debt we have accumulated. And think of the widening divide between rich and poor in America, a phenomenon that goes beyond economics and speaks to the very future of the American Dream.

In short, there’s a momentum here that will require a generation to reverse. Decades hence we should take stock, and revisit the conventional wisdom. Will Herbert Hoover still deserve his dubious mantle? I’m guessing that George W. Bush will have earned one more grim superlative.

Both are well worth a read.

This entry was posted on Saturday, November 10th, 2007 at 4:01 pm and is filed under Essays - other people, News, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.