Al Gore returns

investmenttool.com Opinion

Al Gore made his return to the political scene last week, supporting Bush in the war and attacking him on the economy. Seems Al is just pushing some tired old rhetoric that certainly won't make it in 2004. It might not even prove very useful in 2002.

The Democrats would like to blame George W. Bush for the deficit and the slow economy. They seem to be clinging to this as their only hope against a popular president and his party in the 2002 election.

The facts concerning the economy are simple. The recession began in March of 2001, a little over two months after George W. Bush came into office. The forces that pushed the economy into recession were overcapacity, too much inventory, especially in the high technology sector and interest rates that were kept too high for too long.

The American voter understands this. The Gore-Democratic position assumes the American voter is too stupid to figure that out. It is a position that will ultimately fail to help the Democrats gain control of Congress or retain the Senate.

As far as the deficit goes, there is a slightly stronger argument. Of the $4 Trillion in estimated surplus that evaporated, half was the Bush tax cut. The other half was the recession and war.

The Democrats are facing a very dangerous scenario in the fall elections. As the economy gets stronger, the economic argument will become less and less important to voters. As jobs are created, the pressure to put Democrats into office to save the economy will abate.

Just watch the poll numbers concerning Bush's handling of the economy. As that number rises the Democrats chances will dwindle.

As the war drags on, the only thing that might help the Democrats is if the war itself goes badly. Nobody who calls themselves a loyal American is going to start rooting for that.

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Shmuel Protter
investmenttool.com

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