Lost in Compound W

by Robert Capozzi

I guess we shouldn't be surprised by this news. Somewhere deep in the bowels of the Old Executive Office Building, some wonks came up with this scheme.

This regulatory approach has been shown time and again to fail. Yet, pressured to appear to be "doing something," this "cure" is worse than the disease. Sure, oil "dependence" is a bad thing, on a lot of levels. The common-sense solution is a gradual increase in the gas tax, offset with other tax cuts. But that would make too much sense, would be too effective in reducing pollution and oil dependence, and is too direct.

Let's be cute, say the wonks, bedazzled and bedraggled as they must be with Compound W in such obvious disarray.

Can't wait til 09. There must be a better way to run a government. It surely can't get much worse than this!

-Robert Capozzi