Manarin Investment Counsel, Ltd.

This is unbelievable, but it is good news:

WASHINGTON - House Speaker Nancy Pelosi told the Wall Street Journal that she is considering a two-staged effort to boost the shaky U.S. economy, arguing for action now on a stimulus package of $60 billion to $100 billion, followed early next year by a companion measure that would include a "permanent tax cut."

In an interview Thursday morning, the California Democrat pointed to weakness in the nation's jobs market, and urged the White House, long skeptical of Democratic-led stimulus efforts, to work with Congress in the waning days of President Bush's term.

"Let's see if we can't do something, working together now, that gives us a two month jump," she said.  She said any measure enacted in a lame-duck session of Congress this month would effectively be a downpayment on additional measures enacted later.  "We'll take the longer view as soon as we take over in January."

Ms. Pelosi said she doesn't favor a capital gains tax cut, as pushed by congressional Republicans.  But she did say the "second piece" of the Democratic stimulus agenda should include a tax cut.

The speaker said she prefers a direct tax cut over tax rebate like the one pushed by President George W. Bush a year ago.  The speaker said a direct tax cut can have a more immediate impact on the economy, especially if the government adjusts tax withholding tables to speed dollars into worker paychecks.  "The impact is faster than a rebate, which takes a few months get into people's hands," she said in an interview.

 ~ From Thursday's Wall Street Journal