By talking about a recession, we are informed, he may cause a recession. It's true that Bush has chosen not to play Pollyanna. Since arriving in Washington, the president has been frank about our precarious prosperity. He doesn't want to be blamed for something that predated his administration, and he wants Congress to enact his tax cut. But having impure motives for telling the truth doesn't make it any less true.
Reality is that the economy has been looking pale and wan for some time now.
In the last three months of 2000, gross domestic product grew by a puny 1.1 percent, the slowest pace in more than five years. But consumer confidence began rapidly eroding last summer, when Mr. Sunshine was still in the White House. Besides, the role of mass expectations is grossly exaggerated. In fact, the economy promptly veered off the runway and into the mud. It's by no means clear that anyone pays attention to the president's latest statement when deciding whether to lease a new car or buy a dishwasher.