Wednesday, January 14, 2004

Neo-cons circling the wagons..

From the NRO(Rupert Murdoch's neo-con piching board)

"Those listening to former Treasury Secretary Paul O'Neill might think there's no rational hand on the national economic tiller. But fear not. O'Neill's recent attacks on President Bush and the formulation of U.S. economic policy amount to nothing more than a big plate of sour grapes.

"For two years in the Bush administration, O'Neill never agreed with supply-side tax cuts, the centerpiece of the president's economic policy. He was a static-deficit bean counter, not a growth advocate. Capitol Hill sources say he was ineffectual in negotiations, leading to a weak tax bill in 2001. Instead of immediate tax-rate cuts for investors — who would have aided an economic rebound by investing more — we got a one-time tax rebate and some back-loaded tax breaks."

That's Larry Kudlow supply sider neo-con. NRO link. The piece could be picked about for its logical fallicies, but I don't have the time.

BUT,

Unfortunately as reported earlier, former Treasury Secretary Robert Rubin, Brookings Institution Senior Fellow Peter Orszag, and CEO and Chief Global Economist of Decision Economics, Inc., Allen Sinai believe differently. (I thought about a self-congratulatory link, to the entry below, but only for a moment)

Kudlow is a rich guy. He's late middle-aged(or is that middle ages?). He'll never have to contend with the long term consequences of Bush's excesses.

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