The Ignorant Investor

From the New York Times:

A Republican familiar with the administration’s thinking said Mr. Bush would present ideas to stimulate the economy, most likely in the form of tax relief, in his State of the Union message on Jan. 28. Mr. Bush will not decide on the details until he returns from the Middle East next week.

Democrats and Republicans on Capitol Hill are also suggesting that they might be able to put aside longstanding partisan differences and work on a stimulus measure, lawmakers and aides said Friday.

In a fresh sign of the possibility of an agreement on a roughly $100 billion package of tax cuts and spending to spur the economy, Nancy Pelosi of California, the speaker of the House, and Senator Harry Reid of Nevada, the majority leader, wrote to President Bush on Friday saying, “We want to work with you.”

Everyone has an interest in keeping away a recession. The one belief that the leadership of both parties share is we can always borrow money to cover lost income or to buy some of the things we otherwise can't afford right now. It's a government designed and built by the consumer. It can't stop borrowing until people start refusing to lend it money.