August 9, 2007 (LPAC)--President George Bush, in what is probably his last press conference before leaving for vacation, proved again that he is living in a total dream world and one which has become a pure nightmare for most Americans. Already yesterday, after conferring with his Economic Advisers, Bush indicated that he was not going for any new funding to help repair America's decaying infrastructure. Instead, he blamed Congress for too many earmarks. "You know, it's an interesting question about how Congress spends and prioritizes highway money," Bush said. "My suggestion would be that they revisit the process by which they spend gasoline money in the first place."

On the financial crisis and the sub-prime blow-out, Bush was confident that the market would correct itself and that such a "correction," his advisers have assured him, would not be "precipitous," but rather a "soft landing." "Another factor one has got to look at is the amount of liquidity in the system," Bush went on, somewhat confusedly. "In other words, is there enough liquidity to enable markets to be able to correct? And I am told there is enough liquidity in the system to enable markets to correct. One area where we can help consumer -- and obviously anybody who loses their home is somebody with whom we must show enormous empathy."

Aside from empathy, home-owners will get little from the Bush Administration, except possibly a course in what Bush calls "financial literacy," implicitly blaming the loan-takers for their own woes. He also rejected any "bailout" for hoodwinked home-owners. When asked if Freddie Mac and Fannie Mae would be used to prevent massive foreclosures, Bush commented that these two institutions first had to be "reformed" by Congress before he would consider utilizing them in this crisis.