His statements at yesterday's press conference were clear enough to send the stock market down again today. So while the Texan is hinting at a more dynamic economic growth plan, he nonetheless steadfastly limits his tax-cut options. Political observers are puzzled, the business community is frustrated, and the investor class, which comprised the backbone of Bush's election totals last November, is beginning to turn negative. It's almost as though the president is setting himself up for one of two possible political defeats. But if the package comes in above it could show weakness in the Bush armor.
Financial commentators continue to blame the market decline on profit warnings.
But that's yesterday's story. Investors are really looking ahead at the future potential for economic growth and profits in 2002 and beyond. Saving and investment incentives have strong support in both political parties. But savvy business lobbyists are skeptical that there will ever be a second bite out of the tax-cut apple. Lieberman and Toricelli are two names that pop up, but there are others as well.