In a way Dubya's presidency has been a series
of photo-ops and false dawns--- followed by moments of near TOTAL failure.
Even now, the state of the union appears much better than it is. But, how long can Dubya's luck hold out? Consider:
The tax cuts were ill-advised......and did more fiscal harm than good.
The jobs numbers are "good" but ONLY if you lower expectations to the vanishing point.
The "twin deficits" are not even mentioned anymore. Terrorism is still possible....just as it was prior to 911. But little is being done, because of the focus on Iraq.
The public is polarized as never before. And Anti Americanism is rampant abroad.
China could pull the plug on the US bond market anytime. But they apparently are content with the prospect of "just owning America" lock stock an barrel. They've already got IBMs iconic computer business.
Greenspan is raising rates now, after his odd attempt to bring back the bubble of the 1990's....
Iraq is still a quagmire with uncertain results, despite several "top gun" moments.... The statue fell, Saddam was captured, and now elections that will likely establish a Shia Government in Baghdad.
Main Street is sinking, even while the Wall Street elites are prospering.
Bush will tell us that the state of the union is good...... perhaps.
But, only because we live in an AGE OF DIMINISHED EXPECTATIONS.....
