Word: baumohl
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Dates: during 1990-1999
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...Bernard Baumohl, Patrick E. Cole and Daniel Eisenberg
...left office, letting him take credit now before the sacrifices begin to bite. Still, the budget may sit well with a public that says it wants Congress to tackle the deficit instead of nit-picking over the details. "Clinton has the upper hand," notes TIME's Bernard Baumohl, "because the Republicans risk making themselves look like obstructionists if they don't cooperate." The centerpiece of the tax cut package is a $500-per-child credit for children younger than 13 in families with an income of up to $75,000. Cost: $46 billion. Another $36.1 billion of Clinton...
...index was overestimating inflation by 1.1 percentage points annually, an error that will cost the government $1 trillion over the next 12 years in cost-of-living increases and lost tax revenue. "Greenspan has been pushing for an adjustment to the CPI for years," notes TIME's Bernard Baumohl. "What's new in his call for yet another commission to study the matter is that this would be an independent commission, rather than a government one that presumably has an interest in recommending that the CPI be lowered. This could make its findings more acceptable." The commission would...
WASHINGTON, D.C.: The U.S. trade deficit surged to a record $48 billion for the July-September quarter as American exports fell for the first time in three years. Although the 19.3 percent rise in the deficit since the second quarter seems alarming, TIME's Bernard Baumohl says the worst may be over. "The U.S. is still importing a lot of goods from overseas because the economy is still strong," Baumohl reports. "Japan and Europe are in an economic slump and are not purchasing a lot of exports." Baumohl says the trend is close to shifting. "The trade deficit is expected...
...Reported by Bernard Baumohl and Jane Van Tassel/New York, Barry Hillenbrand/London and Adam Zagorin/Washington