Newport Beach Real Estate
Is Bush's "surge" Working?
The surge in home forclosures that is. Bush used to boast about "record home ownership". Now he avoids talking about "record home foreclosures" as hard as McCain tries to avoid being seen with bush.
What about the surge in bank failures? Two more have failed this week, First National Bank of Nevada and First Heritage Bank of Newport Beach California. It's still a long ways down. There's an estimated $1.3 trillion worth of write-downs before we're done.
What about the surge in oil prices? It was $25/barrel when he took office. It was at $146/barrel recently.
What about the surge in the national debt. It has nearly doubled to over $9.5 trillion in the time bush has been in office.
Of course it's working.
Remember a few years back, Bush was speaking to a group of supporters and he told them that they are his base…"the haves and the have-mores".
As long as the rich get richer, Bush's plan is working perfectly.