| limtex - that's just jawboning; the Euros would rather have double digit unemployment and the Japanese would rather do nothing. The only thing that might help would be a serious GW push for real individual and corporate tax restructuring (hang the surplus, it's gone for now anyway), and hang the Democrats out as obstructionists, together with serious emergency action from the Fed (one point tomorrow), and reduced regulatory threats from Justice and the FTC, to return some confidence to business. To blame GW for this situation is ridiculous, except to the extent he seems to have been timid about economic leadership. Give industry an incentive to put people back to work and give people money to spend. Additional governmental spending programs or tax increases are counterproductive, and destructive at this point except to enhance politicians' personal power. Take a look at Zell Miller's Op Ed piece and Gephardt's recent Euro junket, both in the NY Post today (maybe someone who knows how can actually post them here), if you want to see how the Democratic leadership deals with its realists while enjoying the perks. I can only hope that what Miller is putting out to the Majority Leader is a threat, despite prior denials, to bolt the Dems and return the Senate to the GOP, as a penalty for irresponsible leadership. Real action, not cosmetic coverups, is required; so far, most political leaders get no better than a D- from me. John |
