Chimpo Smirks As Dollar Slides On International Markets

Guardian Unlimited | Economic dispatch | Bush 'deepens' economic mess: "America's neglect of the dollar is bad news for the eurozone, writes William Keegan

Tuesday November 9, 2004

The one small consolation for John Kerry and the Democrats is that it will not be their job to clear up the economic mess left by George Bush and Dick Cheney - the very same Dick Cheney who told an incredulous Paul O'Neill, the former US Treasury Secretary, that Reagan 'proved deficits don't matter'.

It is tempting to say that the Bush administration will have to clear up its own economic mess - tempting, but dangerous. Because from everything they have boasted about, both before and after their election victory, the president and his pals want to deepen the mess.

They will go ahead with making tax cuts for the rich 'permanent'. Their plan to impose US-style democracy on the rest of the world will involve a continuing high level of defence spending. And 'privatising' part of the social security system will worsen the budget, according to all calculations, before it gets better."