Tuesday, July 29, 2008

Economics? Not needed on voyage!

Malcolm suggests, swallow hard and read this:
White House Predicts $482 Billion Deficit
The White House predicted that President Bush would leave a
record $482 billion deficit to his successor, a turnabout
in the nation's fiscal condition from 2001.

Candidates Return Focus to Economy and Jobs
As the candidates emphasized bread-and-butter issues, John
McCain's surrogates attacked Barack Obama's meeting with
prominent economists.
Straight, two successive tasters, from the morning's email of New York Times headlines.

It will need a very large intake of coffee before Malcolm feels strong enough to read the small print. Doubtless the detail is not so contradictory as the headline.

Even for an economy the size of the US, a deficit of that size suggests counselling by trauma-therapists as well as mere economists.

It begins to look like déjà-vu all over again:
send for the liberal tax-and-spenders to clean up the mess left by the conservative balanced-budgeters
(as with the FDR, Carter and Clinton Presidencies; and the incoming Blair-Brown government in Britain).

Still, it raises the question:
Can conservatives be trusted with the economy?

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