Bush: Neo-Hooverian

This op-ed sums up pretty much what I think about Bush and the economy.

Bush has been true to his trickle-down philosophy in the bailout. He chose to provide financial help to the marge corporations, the well-connected, and the well-heeled (although not so well-heeled as well-connected currently).

The problem with trickle-down economics is that it doesn't work. The current economic fiasco should finally put the nail in the social darwinism of corporate welfare.

The best approach, in my opinion, for bailing out the economy should consist of pumping money toward the lower end of the socio-economic level.

Why would this work better than the current screw-up?

The poor are less likely to save and more likely to spend any resources directed their way. Considering that one-third of our economy depends on consumption, we should encourage that consumption by giving resources to the those most likely to consume.

Who would that be? The poor.

The trickle-down approach has failed and it cannot nor should it be resuscitated.

Of course the rich will have to suck it up and actually participate in this economy that has provided them with such largesse.

Bush isn't a neo-con, but a neo-Hooverian.

Let's give it rest.