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Thursday, September 18, 2003
Can you fit the whole thing into a two-screen PowerPoint presentation?
The Washington Post points out that President Plays With Tariffs threw gas on the unemployment fire when he was pandering for the votes of people who actually work for a living:
In a decision largely driven by his political advisers, President Bush set aside his free-trade principles last year and imposed heavy tariffs on imported steel to help out struggling mills in Pennsylvania and West Virginia, two states crucial for his reelection.
Eighteen months later, key administration officials have concluded that Bush's order has turned into a debacle. Some economists say the tariffs may have cost more jobs than they saved, by driving up costs for automakers and other steel users. Politically, the strategy failed to produce union endorsements and appears to have hurt Bush with workers in Michigan and Tennessee -- also states at the heart of his 2004 strategy.
"They tried to play politics, and it looked like it was working for a while," said Bruce Bartlett, a conservative economist with ties to the administration. "But now it's fallen apart."
Here's my favorite part with proper emphasis added:
The issue is being brought to a boil by the scheduled release today of voluminous progress reports by the U.S. International Trade Commission. The ITC's mid-session assessment of the three-year tariff program's impact will examine not only the tariffs' effects on the steel industry but also on the hard-pressed manufacturers that shape steel into products.
White House officials said Bush will not make a decision until he has digested the ITC reports. But his top economic advisers have united to recommend that the tariffs be lifted or substantially rolled back this fall, and several administration officials said it is likely he will go along.
For a man with the attention span of a six-year old after downing an entire box of Ding-Dongs, one has to wonder how long it will take Incurious George to get through "voluminous progress reports by the U.S. International Trade Commission". By the time George gets through them, civilization will have moved on from steel.
Does anyone really believe that he's going to actually look at these things and not get a double-spaced single sheet of paper from Karl Rove telling him what to say in short easy to pronounce words ?
I didn't think so.
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