The Politics of Economics

Walker, Lwis F.
October 1994
Journal of Financial Planning;Oct94, Vol. 7 Issue 4, p157
Academic Journal
Those who function as investment advisors monitor financial markets closely. Researchers scrutinize, pronouncements of economists, commentators and seers to help them divine asset-allocation policies and tactical moves. The fractious Congressional debate over a crime bill may symbolize a portentous turning of the political tide. As one makes assumptions about the future and plays with variables in the recommendation of strategies, one should always keep "Politics of Economic Reality" in mind. "We are on a course toward national bankruptcy," is the blunt assessment of Senators John Danforth and Bob Kerrey. Danforth and Kerrey head the Bipartisan Commission on Entitlements and Tax Reform, a presidential panel created as a concession to Kerrey, whose vote was needed to pass the U.S. President Bill Clinton's 1993 budget and tax increase package. In July 1994, the commission voted 30-1 to adopt an initial report that outlines a grim scenario of the leaders failing to diminish entitlements and put social security on a sound basis.


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