Manufacturing is in a steep decline. Layoffs have begun to climb and job creation is soft. That may come next month, he signaled, a decision that has angered Bush advisers. That's why Bush and Vice President-elect Dick Cheney were sending signals all over the place last week that tax cuts are essential to keep this economy from declining further and, perhaps, slipping dangerously close to a recession next year. Both he and Cheney, who is using the recession word more frequently, are telling congressional leaders that a strong tax cut is needed early to strengthen the economy.
Tax cuts are no longer an option, they are a requirement.
Bush and Cheney know that their administration's political credibility will largely depend upon vigorous economic growth. And right now, the growth rate indicator is pointing down. Copyright 2000, United Feature Syndicate, Inc. Distributed by Newspaper Enterprise Assn.