Thursday, October 30, 2008

The Bush/Cheney Legacy in a Nutshell, Courtesy of the NY Times Business Page

Two headlines say it all.

U.S. Economy Contracts as Consumers Cut Back Sharply

The economy shrank at an annual rate of 0.3 percent in the third quarter, as personal consumption spending fell for the first time in 17 years.

With 58% Jump in Profit, a Record Quarter for Exxon

In what might be the high-water mark for corporate profits, Exxon Mobil reported quarterly income of $14.8 billion as oil prices hit a record this summer and gasoline soared.

They have served their masters well.

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