As Keith noted, Pres. Bush is doing a lot of PR traveling in his 6th year.
This is not unusual for two term presidents, traveling abroad after the
midterm elections are fait accompli and they begin to look down the home
stretch toward forced retirement. Unfortunately for this lame duck
president, his policy and judgment history are such that he will not find a
reprieve overseas than what he faces back home.

The tasks ahead are daunting, even for accomplished and competent
presidents. Things will worsen for the White House fairly quickly, based on
what the 110th Congress expects to do (even though the 109th Republicans are
leaving major unfinished business in hopes it will slow down the ‘New
Direction’ brand launching). But Bush’s worst critics are not going to be
the opposition party. The GOP survivors of 2006 are as mad as a nest of
rattlesnakes that have been bagged, dragged behind a horse and dropped. They
do not want to face any Bush déjà vu in 2008.

As Washington DC awaits the grand presentation by the Baker-Hamilton Iraq
Study Group, like lost Hebrews at the foot of the mountain expecting great
things when Moses returns, those new commandments will be seized by all as a
grand opportunity. In Bush’s case, he hopes to run for the exit without
admitting errors and lies and if he cannot, will blame the Democrats even
before the fresh paint has dried from their new office walls. He’s been
blaming Clinton for six years, so it’s not exaggerating that he might blame
the opposition party for what he did with his own party, hand in glove for
six years.

We will likely see a wave of Cabinet resignations in 2007, so it remains to
Treasury Sec. Paulson and Fed Chairman Bernanke to pursue economic policy,
handicapped by their boss’ lack of credibility and ineffectiveness at
building bridges to the 21st century. The power vacumn may actually assist
Paulson and Bernanke with Congress, but will the EU, Russia and China ignore
the US for the next two years knowing the naked emperor is leaving? I don’t
think they will waste time or capital.

Just reading tea leaves, US corporations are probably rethinking more than
their tax position these days.

kwc




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