BUSH DOESN'T UNDERSTAND ANY OF THIS, SAYS HIS FORMER TREASURY SECRETARY!

WE'RE SHOCKED - SHOCKED! - TO HEAR IT!

First we gave him the keys to the war machine, now he wants the keys to the currency printing presses!

Former Treasury Secretary Paul O'Neill said today that our nation's leaders -- especially President Bush -- are "in a panic" and haven't thought through the $700 billion bailout plan in a rush to pass it by the end of the week.

"I don't think he understands or knows much about any of this and it shows," O'Neill said, adding that current Treasury Secretary Henry Paulson "knows a lot of about this, and it's good that he's there."

"I think most of what has been said by both campaigns about economic stuff is ill-informed and ill-advised," he said. Asked for specific problems, O'Neill said: "Everything."

"We have spun ourselves into a position where intelligent people don't believe they can tell the people the truth and still get elected, so they pander," he added. "One can only hope that they understand the difference between campaigning and governing, and that their governing will be better than what their campaign said." - ABC News