A couple of weeks ago I debated the virtues of George W. Bush with a colleague who told me that George W. Bush, like Truman, will be vindicated by history. Today even he admitted that things appear grim.
The White House occupant and the FOMC moved aggressively to reassure investors. But will they take similar action on behalf of the most vulnerable and least politically skilled members of our society before it's too late? While elite colleges contemplate methods for assisting sons and daughters of the middle and upper classes, Algernon Austin writes that the struggle for subsistence is just beginning for the serried ranks of the underclass. The veil between the well-off and the lesser-included will surely be tested in the near future.
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