How ironic that the same day President Bush signed a “$140 billion corporate tax cut bill derided by both Democratic presidential rival John Kerry and Republican Sen. John McCain as a giveaway to special interests”
“Oil prices rallied to a record high above $55 a barrel” and “the Dow Market slid to the lowest level of the year.”
With an economy struggling to find some footing in these unsettled times, the best Bush can do is to quietly sign a bill rewarding his real constituency with huge tax breaks, further exacerbating a grown deficiet. Oddly, as the Reuter’s article noted, ” Bush signed the measure into law aboard Air Force One en route to a campaign rally in Pennsylvania, forgoing a public signing ceremony that would have attracted attention to the tax cuts less than two weeks before Election Day” despite the fact that “The White House had marked the signing of Bush’s other major tax bills with lavish public ceremonies. This one was marked with a one-paragraph statement by the press secretary.” Wonder why he wasn’t shouting out the news of his his latest “tax cut” to voters?
Do you think voters might have been more concerned about rising prices at the gas pump and the spectre of out-of-control heating costs during the upcoming Winter? They certainly should be because rising fuel costs will surely reverberate thoughout the entire economy, and add more fuel to already record trade deficeits.
Considering how pro-business Bush is, I’m amazed how badly my stock has done since his administration took power. In fact, my stock, which had almost recovered what it lost in the last three years, suddenly dropped again the last quarter, ending up several thousand dollars lower than its original value. I’m afraid to go online and check what its current value is. I suppose it’s my fault for not knowing enought to buy stock in the oil and pharmaceutical industries.