May 31, 2006
Paulson New Treasury Chief
The reporting of Paulson as the new Secretary of Treasury trumpets his ability to be a better "cheerleader" for the Bush economy. I hope this is not the reason for his appointment. Bush officials are dismayed that an economy with good growth and low unemployment is not showing well in the polls. Bush's job approval ratings are low and specific polls are troubling: Consumer confidence polls are dropping and job expectations numbers are also down. The concern of Americans is real and correct. The pubic understands that the economy rests almost solely on the American consumer and the American consumer is running out of money (or has run out of money and is now running out of credit). We are in for a rough patch and the public knows it. I hope that Paulson will be less a cheerleader and more a sound strategist.
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