Bucco, I sure hope the Democrats don't pass a tax cut as a pre-Christmas present. Personally, I think the discipline to spend within your means has to start with Congress. if they keep spending like drunken sailors it will be hard to convince the public that they should change their ways. Like in the early years of the Reagan administration, I think we need some seriously deep spending cuts--ones we all will suffer from.

Having said that, a $150 billion tax cut-economic stimulus might not be a bad idea in the current state of the economy. The actions taken by the central banks of all the developed countries seems to be having a positive effect on the credit markets. I've been told that the statistic to watch is the "Ted Spread" (the interest rate spread between 3-month Treasuries and 3-month LIBOR). If it declines towards parity, that's good for expanded credit. The other half of the equation is to get the consumer to be less frightened and begin spending again. While I don't like funding such an economic stimulus with increased deficits, it will probably work to re-energize the consumer. Without stimulus the impoertant Christmas buying season would likely be a disaster and prolong a weakened economy.

I suppose it's six of one and half dozen of the other as far as the stiimulus is concerned.