...by Charles Wheelan, Ph.D.
Two different headlines over the past week have confirmed what's been increasingly obvious for a long time: George W. Bush is no conservative.
In case you missed them, here's a review:
1. Bush signs the housing bailout.
Here's my best summary of the housing debacle: Homeowners borrowed much more than they could afford; banks gleefully loaned them the money; and then Wall Street, the self-described smartest people on the planet, bought large quantities of those securitized loans. Which part of that couldn't have been prevented with a little more foresight (and a lot less greed)?
Conservatives are supposed to be about personal responsibility, not government bailouts.
2. The administration announced that the federal budget deficit is projected to be $390 billion this fiscal year and $480 billion next year.
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