State Of The Economy: More Bush Hypocrisy?

M, my SF friend-poet-ITguru (yes! All those things!), turned me onto this AP story that’s working its way across the newswires about Bush’s speech earlier today. In his State of the Economy speech Bush asked companies to link CEO salaries and bonuses with performances.

Bush is quick to point out, of course, that he’s not asking for our government to necessarily play a role in scaling down the lavish pay, but for companies to find the right path themselves via new federal rules.

Okay.

I’m not necessarily opposed to this—I mean salaries in excess of several million seem a bit off to me, but this coming from Bush? A man who makes $400,000 a year doing what has to be the worst job ever as president? (Have you noticed even his Dad has been keeping low to the ground lately. Out shame, methinks.)

So who’s to blame for the economic state of this country—overpaid executives who grow fat off the blood of their employees or incompetent old men who lead us into wars that are draining our pockets and wounding or killing our young… wars with no real exit strategy in sight?

As M. asks: “My question: can we do this with our presidential compensation?

If so: Does Bush have enough money to pay America back for his incompetence (since so far his performance was bad enough to warrant a negative salary)?”

I don't know, M. But I think its pretty fucking hilarious that at the end of said article, AP author Ben Feller aptly reports:

"President Bush can deliver all the economic pep talks he wants, but the fact remains that his failed leadership has led to the worst job recovery on record, stagnating household incomes, a rise in poverty and record deficits," said Stacie Paxton, spokeswoman for the
Democratic National Committee.

Since Bush took office in 2001, the country has seen one in five manufacturing jobs disappear, a total of 2.96 million lost jobs. The U.S. trade deficit is expected to climb to a fifth consecutive record when final 2006 figures are totaled next month.”

Yeah. Let’s start with linking the country’s CEO with performance. We’ll work down from there, no?