Fiscal Apocalypse Now

As support for President George W. Bush in the United States has crumbled over the past year, perhaps the most surprising element is the revolt of economists and observers of economic policy. Last week, Peggy Noonan, a speechwriter for both President Reagan and the first President Bush declared in the Wall Street Journal that had she known what George W. Bush’s fiscal policy would be, she would have voted for Al Gore in the 2000 presidential election.