Larry's On Board

Larry Kudlow echoes my belief that there is good polity in the President's speech from New Orleans last night. It's perhaps packed in with a lot of spending, but it is not "LBJ or FDR" as a lot on the right have protested:

So while Congress will flesh out the legislative details, it looks like private capital formation, business creation, and homeownership are key free enterprise approaches chosen by Mr. Bush to revive the Gulf Coast. This is very good. Perhaps Congress will waive any capital gains tax burdens to further attract capital. But certainly Bush has chosen not to create a new New Deal or a new WPA. There will be a lot of federal spending, but there will also be a large private sector component to the recovery plan.
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All in all, the President’s speech last night was a good one. Delivered in his usual plain-speaking manner, it had positive economic growth solutions and an optimistic view of the longer-run. Good for Mr. Bush.

Second Bush Administration Posted by jk at September 16, 2005 3:33 PM