The Day of Reckoning Approaches

Patrick Buchanan continues to hammer home the economic crisis we face. His latest article, “Subprime Nation” concludes:

This self-indulgent generation has borrowed itself into unpayable debt. Now the folks from whom we borrowed to buy all that oil and all those cars, electronics and clothes are coming to buy the country we inherited. We are prodigal sons, and the day of reckoning approaches.

Meanwhile, the president is coming to the rescue:

Bush calls for $145 billion stimulus package: President sees tax rebates as a way to give economy a ‘shot in the arm’

AP Story

WASHINGTON – President Bush, acknowledging the risk of recession, embraced about $145 billion worth of tax relief Friday to give the economy a “shot in the arm. “

“There is a risk of a downturn,” the president said in his remarks at the White House.