Scott Patterson

NY Times Editorial Accuses Bush of Being in ‘Denial’ about U.S. Economy

By Jeff Poor | January 2, 2008 - 18:19

NY TimesThe economy is about to dive off a cliff and it's all President George W. Bush's fault, according to The New York Times editorial board.

A January 2 Times editorial was pretty pessimistic about the economy in 2008, mocking Bush and forecasting doom.

"As 2008 begins, house prices are still skidding, bank losses are still mounting, oil is again flirting with $100 a barrel and consumers are buying less as prices rise," the editorial said. "To many, the wheels appear to be coming off the economy. To others, including President Bush and his aides, the economy is fundamentally sound and resilient."