The mid-term election results have raised the hopes and expectations of the manufactur ing sector. The President has paid the price for an overarching focus on social goals to the exclusion of everything else in a time of high unemployment and extreme caution in the business world. The excessive spend ing by the government has not produced the vaunted flood of green jobs, but Keynesians continue to bleat that "now is not the time" to cut federal spending. The voters were not impressed with that argument, and that is reassuring. As everyone is counseling, the Republicans will have to move cautiously--but they will have to move. The lame-duck session of Con gress will have to take up the expiration of the Bush tax cuts.
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