Financial storm provides epiphany for the U.S.

The Bush presidency represents a lost decade because he squandered the eight years on an ill-conceived war that has already cost nearly US$1 trillion, and may need another US$1 trillion for the aftermath.

The lost decade saw America’s decline. National building has either been delayed or put on hold. No bridges, freeways, public parks or schools were built. The national economy was sustained on the expansion of credit, or “financial engineering,” instead of solid work that produces real jobs. The 43rd president of the United States has failed to provide leadership at a crucial time when U.S. national and financial security is being challenged.

Hopefully, the financial tsunami on Wall Street can act as a rude awakening for the United States. It will be up to Bush’s successor to put the house in order and make up for the lost decade by working hard to make the country great again. Will it be Obama? The young Democrat certainly has an edge because a McCain victory on Nov. 4 would mean a third Bush term — a spooky scenario for many voters.

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