Well, let's see...was it one or two weeks ago that the Treasury Dept issued figures showing the average working family's income has declined in real dollars for the first time in over a decade?...Just read a neat article pointing out most major credit card firms are reporting declining profits. Why? Because an unusually large number of credit card holders have been paying off larger than normal credit card debt. Example - MBNA's credit card debt holdings dropped from over $13 billion to $8 billion in the 1st Qtr of 2005. Financial analysts say it reflects the increased unease most working Americans are feeling as indications stagflation may be returing grow (inflation is rising; job creation is not - in the '70s under Carter this was called stagflation). Even political shill Greenspan is getting increasingly vocal that deficits must be brought under control or we risk serious financial damage to our economy (but ever the right-wing shill, he couldn't bring himself to acknowledge the damage done by the massive - AND INCREASING - tax cuts with no corresponding spending cuts, or his role in them). Poll after poll are now showing most Americans trust Democrats with the economy more than GOPers, that they do not trust Bush on any subject except his war on terrorism...

Seems to me, Krugman is accurately reflecting what is actually happening in working America (something Bush never sees or hears from in his protected ivory tower), and Americans are steadily growing in realization that he hasn't a clue. Heck, even the GOP is beginning to realize it! Anyone see winger Fred Barnes' article in the Weekly Standard complaining about Bush's lack of an "exit strategy" over SS privatization? And his comment privatization is dead? Yet Bush presses on with his 60 city tour (which only allows in the true believers - can anyone explain to me how he's supposed to change anyone's mind if the only ones allowed to hear him are already on his side?). Heck, the Hill reports he recently took Rep Charlie Rangel (D-NY) aside after a WH meeting to tell him his tour is going great, and politicians who failed to support his plan will pay a cost at the polls next year, as if he were warning Rangel (???Rangel??? He's got probably the safest seat among Democrats!)...Does Bush even have a clue polls show him losing support the more he tries to sell his plan (sorry, not the right word - he hasn't put forward a plan...his general ideas would be more accurate)? Or that barely one-third of Americans want anyone tampering with SS? If anyone might pay a price re: SS, it would be Republicans if they ignore the populace and push Bush's privatization goals.

I wonder what Zoomie did with his life before he found your blog.

Uh, normally credit card owners paying down debt is considered a sign of a healthy economy. When the economy tanks, people run up their credit cards trying to maintain their lifestyle.