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Join The Club: Hubbard Bails On Dubya, Harvard Breathes Sigh Of Relief

SlinkyRun away!

"Al Hubbard, chairman of President Bush's National Economic Council, will announce on Wednesday that he's leaving his post, joining a growing line of top presidential advisers exiting the White House as the Bush administration heads into its final year.

"Hubbard's departure comes as Bush faces one of the biggest economic challenges of his presidency, a severe slump in housing and a credit crisis that have roiled financial markets and triggered fears of a recession.

"Hubbard, assistant to the president for economic policy who was the Indiana Republican chairman during 1993-95, will submit a letter to the president later in the day to make official his decision to leave the White House after three years, according to a senior administration official, who spoke on condition of anonymity because the announcement had not yet been made."

At this rate, all of Dubya's high-ranking advisers will be gone before the guy enters his last year in office. What will he do with no one around to tell him what to do?

a) invade Iran
b) organize record collection
c) elocution classes
d) play with Slinky at desk until Laura calls him for dinner

Comments

All of the above.

I pick both c's.

What about:

e) Do whatever Cheney tells him to do

That's what I get for posting in a hurry, Lance.

I say a. and d.

And Al Hubbard must be a big loss. Now, Bush won't have anyone around to explain how the stock market works and why it's a big deal when the Dow gets explosive diarrhea.

Let's be glad it jumped 330+ points today.

Al Hubbard and his old Harvard bud W putting togehter the pieces of America's economy. Of course, they had Mitch's help for a couple years at the outset. If that doesn't make you ill, nothing will.

Hubbard and his gang hate government. And they just may buy it.

UNLESS of course it's to use the SBA to buy up small companies. Last time I checked, Hubbard-Bush and Co. desparately despise such programs. Ask Hubbard how he got most of his little entourage of companies.

And the wife, Lord help us...ask the Park Tudor crowd how much THEY enjoyed thue Hubbards while their children were there.
The words you'll most often hear are overbearing, snooty and aloof.

But, as in your previous post, seems lots of people want to wander Indiana these days.

Just steer clear of them in the wine section at Costco.

What did Al Hubbard do, exactly?

He started by trying to implement the ill-fated Social Security "reform." That was an unmitigated disaster.

I heard him say on TV that other than the credit crisis, the economy is fine. Other than that, Mrs. Lincoln, how was the play?

The economy is in the shitcan.
*Housing prices are dropping.
*Foreclosures are up.
*Job growth has been very weak for years. *The US dollar is losing its international currency status, and the Chinese have great power over our economy based on their currency holdings.
*Health care is the biggest burden on US business but nothing has been done to fix the system. More people are uninsured.
*The middle and lower classes are suffering.
*Taxpayers are footing the bill for a TRILLION dollar war that is accomplishing nothing. Think about what those dollars could do to move our economy forward and solve some problems!

But under Bush, the rich have paid far fewer taxes, and have fared very well. No estate taxes, hedge fund managers paying 15% income tax rates, lower cap gains taxes, no taxes on stock dividends, reduced income tax rates.
If you make $1 million a year, your economy is doing great! You get to buy more art, fine wine, homes in exotic places and yachts.
All of these reduced taxes for the wealthy means that the burden is shifted to the middle and lower class. This isn't class warfare - it's about fairness.

As far as I can tell, Hubbard twiddled his thumbs out in DC and did nothing productive. "Is the economy better off now than it was 3 years ago, Al?"

PS

Oil is about to break $100 a barrel. How do you like paying $3/gallon, where all those profits go to Mobil, BP, etc. and dictator countries like Saudi Arabia, Iran, and Venezuela?

As someone who's paid close to $3.00 a gallon for gas when minimum wage was $2.05, the current state of gasoline prices has barely reached the point where we'll actually feel the crunch, especially since unlike the 70's when you actually paid for things when you bought, the credit card craze will probably keep us buying stuff long after people can really afford it.

great post c. You summed it up very well. I heard an interesting statistic this morning regarding job growth, employment, etc. on the Diane Rheem show on NPR. while the unemployment rate remains relatively low in historical terms, the EMPLOYMENT RATE, which measures the % of the population who are employed and therefore reflects those who have given up on finding a job, has fallen 7/10% in the last year. This is a very large drop and probably more accurately reflects the true employment situation. The fact is that very few good jobs -- like those that pay enough to live a decent life, offer benefits, job security, opportunity for advancement.

have you seen the price of gold? copper? aluminum? For al the unemployment rate is always so low( seasonaly adjusted, you know) and there is no inflation- as it excluded food, and fuel- and our leaders, and bureaucracy are cooking the books, and telling us lies, so we dont run on the banks; Yet our govts are going bankrupt, providing services to all the poor persons out there, and such. We got trouble, people.

and yet, there are so many "Whiners" out there who are too lazy to "take the bull by the horns, buckle down, and pull themselves up by their own bootsstraps", as our politicians, and right-wing blowhard talk radioheads are so fond of saying
if you are bored, go to the bank, and get 1 coin, of each denomination. run the edge on a bench grinder. Its all nickel plated copper, or copper plated zinc. At leas during the height of the metal shortages during WW2, they made pennies out of steel- which would be good, having magnetic coins for all the slot machines at all the hoosier casinos. (which I'll never be able to get a job at due to bad credit, and my business tanking- my customers are doing things themsleves, and using the cash to feed their kids, and suvs, or pay their bills.
You know- a similar thing happened a few years ago. A country's stock market crashed, and their money was so devalued it took a wheelbarrow of dollars to buy a loaf of bread. So our world leaders started a big war. blamed the imigrants, illegals, foreigners, terorrists, subversives, religious fanatics, Jews( always a reliable scapegoat), anybody different than US. Ve torture-ve haf vays uf mekkin you talk-You vill tell us vat ve vant to know. whatever- humans are trusting and gullible sheep. And we got WW2. And thenan engineered Pearl Harbor, to draw us even deeper(which we abandoned our troops in the pacific) viola! We won, and re conquered the world in 4 short years(bombing them into the stone age always works)(unlike our recent attempts at "war without end amen)the war ended, lots of stuff to rebuild, lots of workers to send to college, lots of new technology to exploit, and market.the greatest post war boom. of course- there were millions less consumers, and the military idustrial complex had to scale back the jobs at all the aircraft factories. but as our world leaders see in at their vast conspiracy, a few hundred million deaths, in the scope of the Eternal struggle for global domination, its chicken feed. which is exactly how they see it. they got theirs. we get to visit our dead every nov 11th.
the time is coming when Iran will have a nuke, and use it, and our leaders will further tighten the security for the fatherland, and we will all be safe in our regional "mass housing facilities", laboring for bread, and soup. So please take a number, and line up by that pockmarked wall over there. we will be with you shortly.
Oh- we have nothing to fear, but fear itself. be afraid. be very afraid. I think we are in very deep voodoo

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