Delusion is in the eyes of the beholder. Jerry Sarnataro’s statement that Pres. Bush is delusional is simply his opinion. Some might think he is delusional.
Our soon to be new administration will stumble from time to time. We live in an imperfect world.
When difficulties occur the Bush bashers will be quick to point out that it is because of the residuals of the Bush administration. They have never been known to accept any responsibility. Some of the problems of the last years were exacerbated by the policies of the Clinton years.
There can be no question that the financial crisis that exists right now is substantial. There is enough blame to go around. However, it is certain that the mismanagement of Fannie May and Freddie Mac, thanks primarily to Democrats Barney Frank, Chris Dodd, Chuck Shummer, etc., was a significant contributor to the current mess.
The proposals being put forth by President-elect Obama are heavily weighted towards spending. That is not likely to be of much help.
The experience of Japan after their real estate bubble imploded almost 20 years ago is ample evidence of the ineffectiveness of government spending programs.
What is needed is to reenergize the private sector. Of course, that is anathema to those with socialist inclinations.