On Jan 2, 2009, at 3:12 PM, Michael Smith wrote:
> Would it be fair to say that at best, they will press the attack
> slightly less energetically?
We'll see, but I don't get how that would be compatible with a huge stimulus and job creation program. You could argue that the Ds are better imperialists than the Rs, but it's hard to argue that they're as good at income polarization. The Rs are great for disinflation and the bond market. When W took office, the 10-year T-bond was yielding 5.2%; it's now 2.4%. Inflation was 3.7%; it's now 2.4%. Unemployment was 4.2%; it's now 6.8%. That's pretty typical.
Doug