"Even though the Bush tax cuts have succeeded at stimulating the economy, they've done so at enormous (and largely unnecessary) long-term cost. The large deficits created by such K-Street goodies as a cut in the tax on dividend income and the (longer-term) lowering of top marginal income tax rates, will almost certainly drive up interest rates once the economy sees a few quarters of growth. That could choke off the expansion not long after it starts."

The risk of higher interest rates doesn't seem like much of a problem- interest rates are currently too low. People are piling on debt, because loans are "cheap money" not because they need the capital. This could become dangerous the longer this is prolonged. Also it drives the money to other countries with higher interest rates [lowers the value of US dollar]. Low interest rates also will encourage more takeovers of corporations not loading themselves with debt. And it's standard policy that the Fed is going to deliberately "choke off the expansion not long after it starts". Though as long as Fed sees *real* productivity increases, it might be a factor in delaying putting on the brakes [in other words the Fed might be more in the postion of following the money market, rather than moving this market-{these tax reforms are performing the same function as the Fed would be required to do by a different economic lever}].

"But the idea that correcting any of these deficiencies might have saved a significant number of jobs over the past few years is far-fetched, at best. I have no problem with John Kerry scoring political points on the jobs issue if it helps elect an administration that cares about the long-term consequences of its economic policies. But if Kerry seriously thinks he can influence the pace of short-term job growth any better than George W. Bush, then his view of himself is even more inflated than his detractors suggest."

I don't think Kerry has a clue about the economy [or about running a presidential race]. Shouting and sounding angry will result in a sore throat of faded glory which will coincide with him being in an America which might be considered excessively proud of it's soldiers and what they have accomplished in Iraq.