These days, the sight of US Treasury Secretary Hank Paulson is appearing to be far more frightful for the common Americans. With bailouts being announced every other day, it is becoming clearer that besides terror threats, the one monster that the Bush administration completely ignored, was sleeping in the backyard of the Wall Street.

The Street wears a deserted look these days. Investors are skeptical about their next move. Although the Senate and the House Democrats reached an agreement and approved a $700bn (Rs 32,535 crore approx) rescue plan, the doubts over its smooth sailing in the Congress has made the investors doubtful.

September 11, 2001, was America's biggest tragedy, which killed over 3,000 people. September 15, 2008, is certainly America's biggest economic tragedy. But only this time every American citizen is under financial threat.

According to a report in the Washington Post, which appeared on March 9 this year, the Bush administration will spend about $3 trillion  on the Iraq war.

In 2006, the CIA estimated that the US was spending $4,988 (Rs 2.3 lakh) per Iraqi. By tomorrow, the US will have already spent $583.6 bn (Rs 2,700 bn approx) on what started as the hunt for weapons of mass destruction.

As the war progressed, it turned out it was the weapons of mass destruction for the American economy.
For the time being, Bush may manage to bailout the country from economic crisis. But it will surely wonder who would bail them out of Iraq.

In 2003, the Bush administration boasted of bringing down Saddam Hussein regime. I am now forced to think otherwise.