Its inflation, I think its fair to say that the economy is experiencing 'stagflation'
Hyperinflation - Wikipedia, the free encyclopedia
On that article there is a picture of a German woman burning Marks since the marks burned longer than the firewood it could purchase.
You can even see past inflations in some former currencies, ie. at one point in time there was a 1,000 lira note in Italy (which was worth less than a dollar), but they treated it like you would a dollar bill. Same thing with the Turkish lira which had million dollar denominations until they just recently chopped off some zeroes.
Bush & Cheney do not control the money supply. If you want to stop inflation, the Federal Reserve can simply raise interest rates and keep raising them until it stops. They obviously have not been doing that....