August 31, 2007 (LPAC)--No doubt pushed by the force of the rapidly unraveling economic situation, President Bush today unveiled a "plan" for helping the people in danger of losing their homes. Flanked by Treasury Secretary Hank Paulson, undoubtedly one of the authors of the scheme and Alfonso Jackson, the Secretary of Housing and Urban Development, Bush presented his proposal. The total fairyland nature of Bush's grasp of what he's dealing with, was revealed as soon as he opened his mouth, again describing the "strength" of the American economy. "Economic growth is healthy, the President said. In President Bush's world, "Wages are rising, unemployment is low, exports are up, and steady job creation continues." "The markets," he noted, "are in a period of transition, as participants reassess and re-price risk.[!] " "But the overall economy will remain strong enough to weather any turbulence," he assured his listeners, who were in fact quite few and far between, as most of the White House press corps didn't think he would have anything notable to say, and seemed to have stayed home. As LaRouche noted, the conference were better referred to as a "Depress Conference," since those press who did attend walked away certain the country was doomed."

Bush's plan involved "modernizing" the Federal Housing Administration by lowering down-payment requirements and increasing loan limits, giving another one of his interminable tax breaks to home-owners whose home values have declined, and a "foreclosure avoidance initiative" to allow home-owners to refinance their homes. As Lyndon LaRouche noted when he heard the Presidents proposal, "the Bush measures will make the crisis worse!" Bush himself had noted in his comments that "government has a role to play" in the crisis on the sub-prime market, but only a "limited one." With this LaRouche was in complete agreement, noting that it is generally understood that this President has always been "limited."

As Bush was fleeing the scene, EIR's Bill Jones, one of the few stalwarts reporters present to hear what the President had to say, shouted to him, "Sir, what about the hedge funds and banks that are overexposed on the sub-prime market? That's a bigger problem. Have you got a plan?" Still well within earshot, President Bush and his two compatriots ignored the question and continued on their way back into the Oval Office, although it did appear in the White House transcript of the Bush statement.