Bloomberg News: Bush Failures May Force McCain, Obama to Make Like FDR in 2009

Bush Failures May Force McCain, Obama to Make Like FDR in 2009

By Matthew Benjamin and Heidi Przybyla

July 21 (Bloomberg) -- When George W. Bush became president in 2001, his main goals included restoring ``honor and dignity to the White House'' after the Monica Lewinsky scandal, raising school-test scores and figuring out how to spend a record budget surplus.

The next White House occupant will inherit the deepest housing recession in a generation, growing fears of bank failures, a sinking dollar, $4 gasoline and an economy bleeding jobs. He'll confront wars in Iraq and Afghanistan, mounting tensions with Iran and the U.S.'s flagging international reputation.

Historians say the economic and foreign policy crises in Bush's wake will present either Democrat Barack Obama or Republican John McCain with the biggest challenges to a new president since Herbert Hoover left office during the Great Depression.

``What a burden the next president is going to confront,'' says Robert Dallek, a presidential historian and biographer of Presidents John F. Kennedy and Lyndon Johnson. ``It'll be like Franklin Roosevelt coming in, in 1933.''

The list of problems facing the nation means that campaign promises -- Obama's universal health care, middle-class tax cut and immigration overhaul, or McCain's corporate and individual tax reductions and energy-independence plan -- will likely be put on hold while the president focuses on more immediate concerns, especially the economy.

Waking Up Quickly

The next president is ``going to wake up very quickly to the fact that the economy so overwhelms everything else,'' says Stephen Hess, a presidential scholar at the Brookings Institution in Washington.

In 2000, the last time no incumbent was running, consumer confidence was at record levels and the economy had created 1.3 million jobs in the year's first six months. In August 2000, 89 percent of Americans said the economy was doing well, according to a Los Angeles Times poll. .....(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aKIkmrDcRKv4&refer=home

McLame already admitted that he is clueless on economics. He would be the second coming of Herbert Hoover.

Coolidge and Hoover with all the corruption of the former, and all the dogmatic stupidity of the latter.

:nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke::nuke:

So would every criminal or embarrassment he's had to drop so far.
McCain is not an option.

He has been dropped like the hot potatohead he is...

There is a lot of talk about the need for a second stimulus package to include not just checks where most of the money ends up going overseas for oil or foreign goods, but targeted funding for projects that will provide jobs and revenue remaining in US

would be a huge step in the right direction.

That surely proves that the best synonym for "press pundit" is "suckup idiot."