Taking bets on new tax cuts
The first President Clinton focused his 1992 campaign with the motto, “it’s the economy, stupid.” As the second President Bush enters his final year in office, with the pressure on to prevent a total rout of the Republican Party next November, he’s discovering a new concern for the economy himself.
President Bush said Tuesday that he is watching very carefully to see if the struggling U.S. economy needs a short-term boost from the federal government.
“We’re listening to different ideas about what may or may not need to happen,” he said. “We’ll work through this. We’ll work through this period of time.”
He wouldn’t comment on any specific ideas he is considering, such as tax cuts aimed at lessening the chance of a recession. “We’ll look at all different options.”
On Monday, Bush talked about recent indicators that have been “increasingly mixed,” a new recognition of the challenges now facing the economy, primarily resulting from a severe housing crisis. Previous Bush statements have paid attention to the financial fears of many American families and the effects of the housing slump, but focused on what he calls the strong fundamentals underpinning the economy… [cont’d]
How shocked! shocked! will we be if he ends up pushing for new tax cuts designed to work some trickle down magic?