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September 24, 2008

Bush Speaks: President Bush Reads My Blog

After me demanding here for some time that President Bush stand up and defend himself and explain the current crisis, it now looks like it's going to happen.

President Bush is considering whether to address Americans directly about the financial crisis, and his spokesperson says the nation risks "calamity" without bold action to address the problem.

White House press secretary Dana Perino told reporters Wednesday the president was weighing whether, as well as when and where, he might deliver a speech to share his thoughts about the market meltdown. Perino said the nation "could be facing financial calamity" without what she called bold and decisive action.

She said the president has been trying to answer the many questions and concerns Americans have, and that it was possible a formal address was a way to continue to do that. Perino spoke as Bush flew back to Washington from New York Wednesday.

Good to know he reads the blog.

[Update] Okay, it is set to happen. Tonight at 9pm EDT: Bush speaks on primetime TV. Now, the real issue: Will he take questions? I say no way.

Speaking of Bush, he is reaping what he sowed here with rest to increasing paranoia among voters that they are being railroaded into something here in a lame-duck administration. It is a consequence of the war in Iraq, plus not having helped people understand the growing seismic rumbling in the economy. The upshot is that people don't trust the Administration, so paranoia sets in at the least provocation.

The trouble is, all this ex post speculation that we don't need a massive financial injection into credit markets -- after all, we haven't blown up yet -- is being done in an environment temporarily calmed by the expectation of just such an injection. Dangerous, dangerous illogic.

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