Bushenomics 101

Preznit Chucklepants took a break from fundraising to reassure the American people six days after the problem started.

Bush said recent actions by the government to take over the huge insurance company AIG on Tuesday as well as mortgage giants Fannie Mae and Freddie Mac were necessary to prevent a "severe disruption" in financial markets.

"These actions are necessary and important, and the markets are adjusting to them," Bush said.

Sure it is, pretzelboy. Even congressional Republicans are pissed.

Key Republicans on Capitol Hill blasted the Treasury Department and the Federal Reserve on Wednesday for orchestrating an $85 billion bailout of insurance giant American International Group, and the White House for not informing them of the plan.

Meanwhile, Democrats blamed the Bush administration for the financial crisis, while the White House pointed a finger at Congress.

The criticism came a day after lawmakers were surprised by the news that taxpayers would again be called on to shore up a member of the struggling financial sector.

"Once again the Fed has put the taxpayers on the hook for billions of dollars to bail out an institution that put greed ahead of responsibility and used their good name to take risky bets that did not pay off," said Sen. Jim Bunning, R-Kentucky, a member of the Senate Banking Committee.

A spokesman for Sen. Richard Shelby of Alabama, the top Republican on the committee, said the senator "profoundly disagrees with the decision to use taxpayer dollars to bail out a private company" and is upset the government has sent an inconsistent message to the markets by bailing out AIG after it just refused to save investment bank Lehman Brothers from bankruptcy.

"The American taxpayer should not be asked to unwillingly assume the inordinate risks that financial experts knowingly undertook, particularly when taxpayer exposure is increased by the ad hoc manner in which these bailouts have been engineered," said Shelby's aide, Jonathan Graffeo.

Silly GOP lawmakers. You don't matter to Bush. You never did. Asking Congress for permission to use money is so 19th Century.

Preznitman does what the hell he wants to. And so will McSame and Palin when they are in charge.