John Snow blames it on the rest of the world

Today John Snow, US Secretary of theTreasury, published an article in the Post that tries --again-- to blame the huge US twin deficits on the rest of the world.  The problem he implies, is not that the United States is the only economy in the history of the world to fight a war and reduce taxes at the same time; nor the unbeleivable fiscal profiglacy of this administration (remember the "bridge to nowhere"?).  Blame it on the Asians for their huge savings, low investment and government spending.  Yours truly saw him this morning walking on the street after a meeting part of the bi-annual IMF-WB spring meetings, where thousands of journalists, policymakers, and yes, bloggers, converge.  Being an innefectual secretary of the Treasury, with little understanding of economics, it was no surprise that he looked gloomy and weary.  What a difference with Rubin.