Word: borrowings
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...result, the budget deficit would no doubt balloon under his flat tax. This would then drive up interest rates since the government would need to borrow more money to finance the deficit and to do this would have to offer higher interest rates to lenders. These higher interest rates would then lower investment, which depends primarily upon the interest rate, and undermine the supply-side effects of the flat tax. The end result, of course, would depend on the size of the deficit, but in all likelihood investment would decrease and economic growth actually fall...
...ones who are pro-family, pro-community, pro-spirituality," wails G.O.P. pollster Frank Luntz, "and yet Bill Clinton is using the language and we're not." House Republicans are muttering that Clinton hijacked their agenda. But to paraphrase T.S. Eliot's line about poets, good politicians borrow, great politicians steal. Now Republicans are finally learning what Bill Clinton means by common ground: your land is my land...
...must ask what such realizations will mean practically for volunteers committed to social services. To borrow a metaphor from Anthony Kronman, I believe it means we have to see through "bifocals" as volunteers--constantly understanding and empathizing with those whom we "serve," while conceptualizing their difficulties within a larger understanding of social organization. We must learn that all the philosophizing and social theorizing in the world does nothing if it ignores the subjective deprivations around...
...gradually slowing economy, the Federal Reserve Wednesday lowered short-term interest rates one quarter point to 5.25 percent. Commercial banks quickly followed the move, dropping their prime lending rates to 8.25 percent. The White House welcomed the Fed's action, hoping that lower interest rates will encourage consumers to borrow and spend more. The cut came despite new government figures released Wednesday that show wholesale prices rose 0.5 percent for the second month in a row. The Fed said in a statement released after the cut that it believed inflationary pressures would not be overheated by the gentle stimulus...
...occasion. But I'm certainly not the evil conservative that the liberal establishment likes to depict all of its foes as. In real life, I'm a soft-spoken, mellow fellow who smiles and nods a lot. If I am guilty of anything. I would say (to borrow from Shakespeare) that I have loved opinion writing and debate over issues "not wisely, but too well...