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To: willcousa who wrote (157804)	2/5/2002 6:35:04 PM
From: Joe NYC	Read Replies (1) \| Respond to of 186894

willcousa, He announced there will be no economic stimulus package. CNN (FWIW) reports this sunk an up market. This is probably good news. The whole concept of Congress concluding there is a recession, and trying to respond to it is completely wrong. With the speed Congress moves, they would need to start debating the stimulus package at the peek of the boom, so that they are done by the time recession hits. This would be 1st half of 2000. Now, 2 years later, as the economy is coming out of the recession on its own, the stimulus package would be counterproductive. Joe PS: Another bad thing about the stimulus package now would be this: Suppose it passed, and by fall, the economy is solidly recovering (with or without stimulus), the Congressmen would come to a false conclusion that they know what they are doing, and what they are doing is correct.