There are at least seven reasons why Bush wants a recession. That's why he has been touting it, in hopes of bringing it on as soon as possible.
Republican = Recession
Now that it looks as if a Second Bush Recession is coming on, this is a message we need to work hard to get out to the media and as widely as possible, since Karl Rove and co. will try to spin it into a Democratic failure. Remember, we may have Issues with Ashcroft, but Americans vote their Pocketbooks.
There are a number of very good reasons why Bush wants a recession, which is why he has been touting it, in hopes of bringing it on earlier.
A recession that is not too large will facilitate many of his policies and make the people who put him in office richer still:
1) A tax cut for the rich will sail through since Americans, terrified of recession, will buy the lie that it will stimulate the economy. Even though many recall that the big Reagan tax cut didn't cut their taxes, and this one won't either. The right wing press has already distorted Greenspan's testimony so that most of the public thinks he endorsed the $1.6T tax cut as a recession-buster, When He Did Not.
2) With eight years of Democratic boom, workers are beginning to ask for their fair share. A recession will scare them back into accepting lower wages, fewer benefits, and decreased rights. This will again, benefit Bush's patrons.
3) Similarly, environmental regs can be destroyed as "holding back business." Bush has already tried to claim they are the cause of the California energy crisis, and not the foolhardy deregulation which he champions.
3) A recession actually helps the bond market, and much of the old money behind Bush is in bonds.
4) During a crisis, the President has a broader scope of powers, giving this un-mandated President a virtual mandate.
5) Many of the wealthy older families, such as the Mellons, DuPonts, Rockefellers, Vanderbilts, Carnegies, Astors, actually became wealthier during recessions and the Depression. Those who had lots of money could buy things dirt cheap and wait for an upswing, ending up owning everything. This is one reason Mellon Scaife is the shadowy power behind the Republican resurgence.
6) Government spending can help some during a recession, but since Bush is against social programs, this will justify spending billions on Son of Star Wars, to enrich Cheney's defense buddies.
7) A recession, combined with big tax cuts, will bring back the national debt. And yes, the very wealthy want this. Who do you think owns all those recession-proof T-bills that will make them richer while the rest of us get poorer? And creating more wealth-disparity is all part of the GOP plan.
This is why it's no mystery that Republican administrations busily set about creating recessions as soon as they take office. In the case of Shrub, he was so eager to get started he didn't even WAIT for that. He started talking up recession, making it a self-fulfilling prophecy, the day after Gore conceded.
And of course, it's easy for Bush to start a recession. Recessions are a matter of Mass Psychology. The buoyant optimism of Clinton brought growth. The miserly meanness of Bush does Not inspire confidence in the buying public. At some level they know they are in for it under a Bush administration. In fact, lots of Republicans who voted for Bush are now pulling out of stocks into safer investments, because they know what's in store. Historically, when a Republican takes over after a period of expansion, he triggers a recession or a depression.
Perhaps it should be George Hoover Bush.
More detailed analysis is available at http://www.bushboyzstolethevote.com/recession.htm
Please repost this widely. The professional PR minions of Karl Rove and the GOP are working hard to pin the blame for the Republican Recession on someone else, so We, The People must do our part to spread the truth.
Jim Mooney is webmaster of Bush BoyZ Stole the Vote