Monday, January 28, 2008

A Year to Go

President Bush makes his last State of the Union address tonight. We have one year left -- actually a bit less, 358 days -- before we finally get someone, anyone, other than this Bush as our President.

Look at our military. It's hard to believe now that Bush ran for office on a campaign that claimed that President Clinton had destroyed the military at that he would rebuild it. What's happened over the last seven years? Even Bush's most ardent supporters would have to agree that the military has been stretched to the breaking point by Bush's military adventures.

Look at our international standing. The day after 9/11, Le Monde captured world sentiment by proclaiming "we are all Americans." The President had a unique opportunity to build on international good will. Today, the world looks at America with apprehension and suspicion.

Look at our pocketbooks. After seven years of Bush's "pro-business", "ownership society" policies, the S&P 500 Index is slightly lower than it was the day he took office. Remember, the typical growth of the index is about 10% per year. Over seven years, it should be up about 95%. In eight years of the Clinton presidency, it was up 208.5%. Instead, our retirement portfolios are unchanged over seven years and we can look forward to working longer before we can retire.

The list could go on. But boy, I am sure ready for a different President. A year to wait.

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