December 6, 2002

The dismissals of President Bush's top two economic advisors shouldn't obscure the real problem the President faces. The real problem isn't simply the President's people; it's the President's policies. To put it bluntly, his policies are driving the economy into a ditch. Just today we learn that unemployment has climbed to its highest level in 9 years.

The President needs to get back to basics. To create jobs and turn this economy around, we need tax relief now for working people and small businesses - not the President's plan to give tax breaks to the largest corporations and most affluent who don't need relief. He should lower the deficit by foregoing these luxury tax breaks for the biggest and wealthiest, because lower deficits means lower borrowing costs for business loans, home loans, car loans, and college loans. He should strengthen, not weaken, the SEC, because only with a strong Wall Street cop on the beat will investor confidence be restored - and with it, hopefully, people's retirement and college savings. Lastly, the President needs to call on Republicans in Congress to immediately extend emergency aid for the unemployed. That'll give the economy a shot in the arm by stimulating the purchase of goods and services. Most importantly, however, it will reassure hundreds of thousands of unemployed Americans that they and their children will not be abandoned and ignored as they struggle to find work.