November 09, 2004

Rule the world

Adam Posen lays out the Bush economic/long-term political policy in six easy steps:
1. Privatize Social Security so that Wall Street ends its bipartisan ways and becomes an exclusively Republican constituency.

2. Make big, unaffordable tax cuts so that future generations, even if they happen to be Democrats, won't be able to implement any spending programs.

3. Pass tort reform and cut out the Democrat's fundraising base.

4. Turn the Senate into ratification chamber, rather than an actual veto point. Appoint partisan hack as Majority Leader.

5. Appoint another partisan hack to the Federal Reserve, someone who will keep quiet about possible inflationary pressures caused by deficit-busting policies. (Assume infinite credibility for partisan hack.)

6. Bet that markets tend to assume that U.S. political leaders are sane and rational.
Rock on. Steps five and six seem kind of risky though.
-- Brad Plumer 4:25 PM || ||