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Presidential economics

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As we head deeper into the presidential season, carp all you want about how many Supreme Court nominees the 2004 winner might to get to appoint, the truly important nomination will be for Fed chairman in 2006, when Greenspan is likely to retire.

The man Bush is likely to appoint is Martin Feldstein, a supply-side free marketer in the mold of Greenspan and Milton Friedman who favors sweeping Social Security reform. Fortune has a lengthy profile.

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About Howard Owens

  • But is it supply-side that’s working, or is a Keynesian dynamic in play?

    Spend More + Tax Less will almost always = A short-term boom. Cut spending and/or raise taxes, and the boom might very well end.

    Of course, with budget deficits as high as they presently are, we simply must either raise taxes or cut spending. Kerry wants to raise taxes AND spending. Bush wants to cut spending AND taxes.

    Of these two imperfect choices, I prefer Bush’s.

  • Tom

    I guess supply side does work. Our economy is humming, jobs are being produced. And the Bush haters hate Bush for it.