As the U.S. recession began last year, George Bush's attitude about it was rather like Macbeth's unpleasant regard for murdering King Duncan: " 'Twere well it were done quickly." That is, better to get it over with long before the election. Until lately, the Administration felt confident that by 1992 the recovery would be in full swing. But in recent weeks the President has twice convened special sessions of his Economic Policy Council. Reason: although Bush's advisers regularly declare the recession over, polls show that the vast majority of Americans don't buy it. The President was moved to remark last week,...
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