Last fall I wrote that Bush had run out of levers - if he spent freely to create jobs, he would reignite consumer inflation - or the fed, if it were DOING ITS LEGALLY MANDATED JOB TO FIGHT INFLATION would have to raise rates to kill the recovery.
Consumer inflation is econospeak for "oil prices go up".
http://www.nytimes.com/2004/02/13/business/13CND-TRAD.html?hp
Guess what...