President Bush, now on the farewell leg of his presidency, proclaimed that "We're strong dollar people in this administration, and have always been for a strong dollar, and believe that the relative strengths of our economy will reflect that" on his trip to Japan for the G-8 meeting.
The only problems, albeit very minor ones, with this statement are as follows:
- He has increased the federal debt held by the public from $3.3 trillion in 2001 to $5 trillion plus this year.
- He has been putting pressure on countries like China and the Middle East nations to raise the value of their currencies.
- He has created the housing bubble as part of the ownership society he has implemented, and his sidekick Fed has lowered rates.
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