DOWD V. KEYNES:

Cheneyville Christmas (MAUREEN DOWD, December 8, 2002, NY Times)

By sending a forlorn Mr. O'Neill driving back to Pittsburgh, the White House offered only a counterfeit reckoning. In a genuine reckoning, they would have admitted the tax cuts aren't cutting it. If the Bushies want their fiscal policy, they can't have their national security policy. And if they want their national security policy, they can't have their fiscal policy.

I’m no more an economist than is Ms Dowd, but I’m unaware of any economic theory that says it’s a bad idea to cut taxes, raise spending and run a temporary deficit during a slump. Posted by Orrin Judd at December 8, 2002 12:07 PM