Economy Advice For The Senators

THE WSJ HAS ADVICE on the economic policies of the presidential candidates:

". . . Because they were immediate, marginal and permanent, the 2003 tax cuts did help ignite a recovery. The world economy could use a similar U.S. tax-cut boost now to reduce the depth of recession and speed on recovery.

This is where our two Presidential candidates could help, if they have a mind to. The response by both Barack Obama and John McCain to the financial panic has done neither man credit. Both have been tactical and political in the most self-interested sense. Mr. Obama may get away with it given his lead in the polls, but Mr. McCain could use this moment to show some leadership.

Senator McCain could use tonight's debate to map out an economic argument for the final month of the campaign. He would explain to voters how we got here, and that he has a plan to calm the panic, rebuild the banking system and revive the economy. He could start by saying his economic plan was designed before this crisis, but given the panic he has scrapped it and is proposing a major and immediate across-the-board tax cut.

It ill serves voters if the two men running for the Presidency of the United States offer little more than campaign boilerplate amid a crisis of this magnitude. The whole world is focused on these sobering events. The time is now for the country's next President to match the moment."

Are you holding your breath?