Bush was in trouble even before Katrina. He was losing support on Iraq , people were worried about the economy -- even if the objective data don't necessarily support that -- and Katrina exacerbated all of that.

President Bush was in trouble. Nothing was going right, and the war in Iraq was rapidly losing support. Democrats smelled victory but kept bungling the chance. Their nominee was so unappealing that Bush and the GOP scored a giant victory.

I have run into people who don't support the president's views on Iraq or our objectives, but I haven't run into a single person who said (he or she) doesn't support the troops. I think our society learned from Vietnam that it's not the men and women who sacrifice their lives and signed on the dotted lines who make up the plans and objectives. I think pretty much everyone supports the troops.

It's an Iraq-driven market, unfortunately. And the longer this lingers, the more detrimental it is to the economy and earnings.

The administration seems like it's preoccupied with a lot of other issues from Iraq (to Hurricane) Katrina, the economy.

You don't need to think the economy is losing momentum.