Reply #2: the $ decline was an inevitable consequence of his reckless budget policy

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the banana republicans let themselves get so blinded by their greed and their hatred of "discretionary spending" that they decided to radically cut taxes and jack up spending in order to deliberately put the nation in a financial straightjacket, so we'd have "no choice" but to eliminate social spending.

what these geniuses didn't think through was that, when you nearly bankrupt the government to squeeze out social spending, ... well, ... you nearly bankrupt the government!

so why would foreign investors invest in a country rapidly being run like a banana republic, especially when there are strengthening and emerging markets in latin america, the european union, and russia (lukos aside)?

letting the dollar fall isn't really much of a bush policy. he doesn't have a choice. the market forces are way too strong to resist.

you just can't go from a few years of surpluses -- paying down the debt -- to budget deficits that not only completely shatter the old records AND not even have a credible plan for restoring any semblance of fiscal sanity and not expect your currency to suffer.

bush is totally at the whims of the markets unless he can get our financial house in order, which isn't even on his agenda. cut the deficit in half in 4 years? please! what kind of lame goal is that?!