Writing in the Wall Street Journal, Martin Feldstein, who was the chairman of President Reagan's Council of Economic Advisors and is now a Harvard economics professor, says that the Bush administration must make sure that it gets the timing of any tax cutting package designed to re-ignite the economy exactly right. The administration would be well advised to trust the economic measures that it has already put in place to help the economy out, waiting for perhaps about two months before approving any further measures, including a big tax cut. Fiscal policy takes a long time to actually produce results, and moving too quickly could have unforeseen consequences further down the line.
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