BUSH OFFERS DIRECTION, CONGRESS SHOULD FOLLOW

President George Bush delivered a State of the Union address Tuesday night that was right on the money in tone and substance. He demon~strated clear leadership in setting forth specific proposals for jump-starting the nation's economy and established a feasible deadline for achieving his goals. We hope Congress will embrace these proposals and work with the president in advancing them.

For the criticism leveled at him for being a lackluster orator, President Bush shows a capacity for delivering a force~ful speech at the moment he needs one most. From a political standpoint, he set his presidential campaign on the right track with a moving acceptance speech at the 1988 Republican National Convention. From a leadership standpoint, the president delivered a wartime state of the union address a year ago that unified and reassured the nation.

U.S. Rep. Bill Emerson of Cape Girardeau said President Bush "hit a home run" with Tuesday night's speech, and we are apt to agree. He was firm in his resolve to beat the economic problems of this nation, defiant of the skeptics that stand in his way and logical in providing perspective about the true state of our union.

What is that perspective? This: Communism is disintegrating, America is at peace and the problems of our nation are solvable.

Bush offered numerous specific ways for solving the economic problems.

Government regulations: As an administrative action, the president placed a 90-day moratorium on "regulatory overkill" that hampers business development. The regulatory structure of the government could use a thorough evaluation.

Student loan interest: Bush seeks to allow all families to deduct interest they pay on student loans. An education is as much an investment as a home; this measure speaks to that value.

Research and development: Tax credit would encourage American businesses to invest in new technology, a move that should result in new jobs.

Home buying: The president recommended a tax credit of up to $5,000 for first-time home buyers, with the credit spread over two years. These same buyers would be allowed to withdraw up to $10,000 from Individual Retirement Accounts without penalty. A lot rides on the health of the housing industry and these measures address that.

Line item veto: Forty-three governors have this power in their respective states, but not the president. If you want to cut the "pork" from the federal budget, approval of this measure is essential.

Cut the capital gains tax: By trimming the tax on profits from the sale of stock, real estate and other assets (from 28 percent to 15.4 percent), business growth is greatly enhanced.

Democrats in Congress, who have offered little in the way of solutions to our nation's problems, largely regarded the president's proposals in this way: "Too little, too late." That's a phrase that can be easily applied to athletic events; the Buffalo Bills know all about "too little, too late." When it comes to a nation's economy, this anthem doesn't work. Number one, many of the president's proposals have been offered in Congress before and been stalled there by the Democratic leadership. Cuts in the capital gains tax were effectively beaten by one man, Senate Majority Leader George Mitchell. Number two, even if these were previously unheard-of initiatives, what should be foremost in congressional minds is their worth in revitalizing the economy. If the Democratic leadership truly wants to represent the working people of this country, let them stand up and be counted on measures that will put people to work.

President Bush summoned images of last year's Persian Gulf War in rallying the nation to his proposals. This is more than just playing to the most successful episode of his presidency. What it does is ask the American people to embrace the economic difficulties of this nation in the same unified way that they did the war effort. America has the resources and resourcefulness to solve its own problems. President Bush has provided direction for this to occur. Congress needs to respond accordingly to get this country moving again.