You have heard it all before. The Bush economy is doing great..everybody is prospering..look..federal revenues are at record levels. Tax cuts are the magic elixir and supply side economics really does work.

Ignoring the fact that median household income is lower today than when Bush was inaugurated.

Ignoring the fact that the economy is somewhere around 7 million jobs short of creating enough jobs just to keep up with population growth since Bush was inaugurated..meaning that the monthly unemployment rate is not measuring the true level of unemployment in the country, etc, etc..

It feels to me like the wheels are about to come off the wagon. The subprime mortgage problems now surfacing will be the tip of a very big iceberg..