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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (4369)	8/12/2002 7:21:49 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Beyond the Waco Echo Chamber The New York Times Lead Editorial 8/12/02 President Bush's vacation plans changed abruptly when he decided recently to summon more than half his cabinet to a convenient location for an economic conference. Well, Baylor University in the scorched prairie of Waco, Tex., a half-hour's drive from Mr. Bush's ranch, was at least convenient for the president. Now the question is whether tomorrow's forum, which is reportedly going to include Republican donors and exclude administration critics, will do anything to resolve the administration's failure to speak with one reassuring voice on the economy. The Waco forum is obviously a way to let Mr. Bush show that he is concerned about the economy. Few Americans could seriously doubt it. But in truth there is not much Mr. Bush or anyone can do to change the economic indicators as the November election approaches. And to give the president his due, he came into office warning of a recession, even though the tax cut he proposed to deal with it was a bad idea that looks worse the more he presses to extend it. The passage of legislation to promote trade was an important achievement, and Mr. Bush signed a solid bill to restore corporate responsibility after showing an early lack of enthusiasm. But on economic policy, and especially fiscal policy, this administration has no convincing plan. What it has is an ideology — and even that ideology lacks consistency. The commitment to free trade did not survive pressures from swing-state steelmakers for protection, and the dedication to fiscal conservatism was tossed overboard with the enactment of an obscenely expensive farm aid package. The impression left is that the White House's handling of the economy is driven by short-term political concerns. That image is not likely to be changed by the holding of a politically driven event like the Waco conference. The Bush economic team has come under such heavy criticism these days that even many Republicans expect a reshuffling after the election. Treasury Secretary Paul O'Neill and Lawrence Lindsey, director of economic policy at the White House, and Mitchell Daniels, the budget director, are the ones most criticized, even by Republicans in Washington. Mr. O'Neill's crusty shoot-from-the-hip style is popular among some, but it doesn't necessarily make him the best choice for calming markets. Mr. Lindsey is supposed to manage economic policy, but he has done little beyond advocating tax cuts as the solution to everything. But the biggest problem is that no one on the economic team seems to have the stature to work out a coherent policy and force the others — particularly the political handlers — to come on board. Mr. O'Neill was at least skeptical about tax cuts when he entered office, and he openly criticized the administration's expediency on trade. (Perhaps Mr. O'Neill could debate Karl Rove, the White House political director, at the conference tomorrow. That's one way to bring the crowds to Waco.) The Treasury secretary's supporters say he wanted faster action on corporate issues but was rebuffed. These reports have diminished his stature and cast doubt about how policy is made. Mr. Daniels, director of the Office of Management and Budget, also has credibility problems. His forecasts have had to be revised constantly, and his lectures on spending restraint are undercut by Mr. Bush's signing the costliest farm bill in history. In political terms, this is the first Republican administration in a long while that will have a tough time beating up on Democrats over the budget, in part because it is Republicans who want to spend on the military and on homeland defenses and none of them want to think about rescinding the tax cut. The president is not going to engage in any midcourse corrections until after the elections. But this gathering in Waco should mark the end of the administration's attempts to solve its problems by demonstrating that Mr. Bush cares. We know he cares. What we need is evidence that he knows what to do. nytimes.com