You can't make it up:

Reuters:

WASHINGTON (Reuters) - Hurricane Katrina will hurt the U.S. economy in the short run but bright long-term prospects mean the Bush administration can push ahead with its reform agenda, a top White House economic adviser said on Thursday.

"In the shorter term, the devastation wrought by Hurricane Katrina will have a palpable effect on the national economy," White House economic adviser Ben Bernanke said in prepared remarks for delivery at the National Press Club. But he said private-sector forecasts were for healthy long-run growth.

Bernanke said the White House intends to continue pursuing policies that have make the economy able to withstand shocks and that will keep growth on track.

"These policies include making tax relief permanent, reducing the budget deficit by limiting spending, strengthening retirement and health security through efforts like Social Security reform ... and enhancing energy security," Bernanke said.

• "Bright long-term prospects"? Nobody is saying that. (Not that a recession is being called for, but the future isn't particularly encouraging.)
• They might get the tax cuts, but how big a deficit can this country stand?
• They sure aren't going to rein in spending. See Bush's speech tonight.
• "Strengthening retirement" for who? Certainly not for the retirees.

These guys are living in a dream world.


posted by Quiddity at 9/15/2005 10:59:00 AM