As is the typical situation we see when an individual become president, we currently see George W Bush seeming to lose total contact with the reality that brought him to the White House. I have been a staunch supporter of President Bush during the election debacle, and through the atrocity of 9/11/01.
The man gave confidence to the masses. However, now I am beginning to wonder.
How could he have been led into believing that levying a 30% tariff on imported steel was going to be a positive economic issue for the United States? I see steel prices rising, and along with them, prices for everything else. Voil! Inflation rears its ugly head, and our economic recovery rots and dies!
Yes, I'm sure that the domestic steel industry is hurting and that a large number of workers in this country are affected. However, in view of the world political situation, and the need America has to generate friends and reduce enemies, it seems that not only the timing, but also the economic logistics seems to defy the reasoning that caused these tariffs to be instituted.
Who are these economic gurus who have convinced the president to perform an act that seems to directly counter this nation's effort to move forward with an economic recovery?
All the tariffs have done from an international standpoint is start a tariff war.
We have a war ongoing against terrorism now, which we cannot afford to lose. We need to have allies out there, not adversaries that may oppose us just because of our position on tariffs, which these other countries see as an effort by the United States to hurt them economically.
I run a company with multimillion-dollar annual sales, and while my company will be affected — just like everybody else's — we will survive.
President Bush might well be apprised of a modified cliché: With financial policy advisers like these, who needs enemies?
Doug Breaux [email protected]