It was only when the stock market showed its growing concern, by rolling over into corrections each spring, that politicians awakened to reality and in panicked late-night sessions reached last minute agreements on whatever was the worrisome issue at the time.
While the Bush Administration at last appears to be recognizing this reality, its two-track response is quite astonishing: On the one hand, the Administration evinces no apparent concern over the catalytic effect the Webster testimony is having on congressional efforts to gut the defense budget.