Political Economy

David Brooks has written a column on the need to muster political will to re-create the American economy. He gives the administration credit for having ideas on how to create an "investment economy" vs. the current "bubble economy." Although he speaks in broad generalities that may or may not turn out to be true, I agree with the principles he expresses -- that the new economy will need to be founded on something other than consumption, that the federal government needs to bring in some form of balance to the tax and spend equation, that the challenges before us are long-term and lasting. I just hope he isn't right about Congress being the problem, not a part of the solution.