EDITORIAL
Will Bush atmospherics calm nervous investors?

The Bush administration hasn't done much to assure the public that the economy is doing fine and investments are on their way back north.

Bush yesterday made much, at a stage-managed forum in Texas, of his rejection of $5.1 billion in new spending approved by Congress — a minuscule part of the government's $2.1 trillion annual budget. Meanwhile, he insisted that his huge tax cut must go forward despite mounting deficits and concerns about renewed recession.

But William Beach, chief economist at the conservative Heritage Foundation, saw through the smoke:

"These are frightened people," Beach said, "and I think that is the main reason for having this fairly meaningless conference."

Despite our doubts, we must hope it works.