Re: FWD: Whither the AEA?

[William F Hummel <wfhummel@xxxxxxxxxxx>]

I am very disappointed in the fiscal policy positions of the Democrat
candidates for president.  Not a Keynesian among them.  However I
attribute their positions to ignorance rather than duplicity.

In truth, the administration's position on budget balancing is little
different in substance from the Democrat's -- as long as it balanced
in favor of the upper income class.  Yet its actual budget position is
the result of a do-whatever-it-takes political stance.  Justify it by
claiming that the resulting economic growth will eliminate the
deficit.  It's reminiscent of the supply-siders of the Reagan era, but
now driven mainly by election politics rather than ideology.

Karl Rove is a master at political maneuvering.  His drive to cut
taxes a second time around has the Democrats arguing for rescinding
the Bush tax cuts altogether.  That's a sure loser in an election
year, even though it would have little financial effect on the vast
majority of voters.

The Democrats strongest issue now is the Iraq mess that Bush/Cheney
got us into, particularly if it remains unresolved and bloody through
the political conventions and the election period.  Those who clearly
opposed the unilateral preemptive attack should stand to benefit.
That certainly doesn't include the members of Congress who acquiesced
with barely a whimper.  Whether it includes General Clark will
continue to be hotly debated.  My guess is that Rove and company will
do whatever it takes to undermine Clark's claim on that issue, because
he is feared most as the Democrat nominee.

William F Hummel