Exit Strategy For a Fiscal Impasse (washingtonpost.com): "President Bush won an impressive election victory, but he didn't repeal the laws of arithmetic. And the cold-hearted actuaries of doom, the bond and currency markets, were signaling last week their judgment that the president's economic numbers don't add up. The United States is running huge budget and trade deficits, but Bush showed no sign during the campaign that he had a serious plan to deal with them.
That's why I'm encouraged by Bush's new, post-election talk of a radical overhaul of the tax system. It's hard to see how tinkering with revenue and spending will get us out of our current mess. The only workable solution will have to be a bold one, and this is one area where the president's bullheaded 'I'm prepared to lead' style is genuinely welcome. "
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