Free Republic

Twelve years ago, after the first U.S. victory in the Gulf, President George H.W. Bush was unwilling to invest his new political capital in much needed economic stimulus. Instead, he weakly called for a transportation bill — a huge political miscue. What he wound up with was a budget-busting Christmas tree adorned with expensive district-by-district ornaments. What he didn’t get was enough pre-election economic growth to counter his misbegotten tax hike of 1990. President George W. Bush’s advisors are well aware of this. They recognize that a capital shortage following the three-year stock market plunge continues to hold back...

It is amazing how little the pundits understand President Bush’s economic views. Just a few days ago editorials referring to the Bush economic plan were speculating as to what the plan would and would not include. The editorials were almost in unanimous agreement that the president would have to “soften” his stimulus package. The softening options included paring back the planned elimination of the double taxation of dividends to 50%. Another possibility was to drop the plan to accelerate marginal rate cuts for higher earners. . Yet to the surprise — and perhaps disappointment — of many pundits, the...