ON THE PHYSICAL PROPAGATORS OF QED

The true variables in QED are the transverse photon components and Dir ac's physical electron, constructed out of the fermionic field and the longitudinal components of the photon. We calculate the propagators i n terms of these variables to one loop and demonstrate their gauge inv ariance. The physical electron propagator is shown not to suffer from infrared divergences in any gauge. In general, all physical Green func tions are gauge invariant and infrared-finite.