Thursday, August 21, 2003

Sit-Ups for Buffett

Larry Kudlow is understandably thrilled that Arnold Schwarzenegger has told Warren Buffet that he must do 500 sit-ups if he ever mentions overturning proposition 13 again (the law prohibiting increases in property taxes in California). The body-builder/actor/gubernatorial candidate now appears to be taking a walk on the supply-side, shoring up the support of fiscal conservatives while continuing to leave social conservatives with their doubts. Kudlow credits George Schultz and Arthur Laffer for tutoring Schwarzenegger and nearly sending Buffett to exercise hell.

Schwarzenegger's apparent conversion is all well and good, but it begs the question of why he hired Buffett in the first place. Give Schwarzenegger credit for hiring big names, and bright people at that; it is generally a good sign when a candidate is willing to hire bright, high-powered advisors. But we seem to be witnessing a political neophyte unsure of his positions, still groping for coherent policies.


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