Word: boskin
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...gave them their most unequivocal direction so far: he showed them the door. As a political sacrifice play, the beleaguered President put out the word that in a second term he would replace his economic team, including Treasury Secretary Nicholas Brady, Budget Director Richard Darman and chief economist Michael Boskin. To fill the void, Bush said he would appoint chief of staff James Baker as domestic policy boss...
...Boskin increasingly clashed with Sununu over the President's sunny pronouncements on the economy. Sununu kept Boskin away from Bush until November 1991, when the economist threatened to resign in protest. Granted an audience, Boskin told the President that the economy was not recovering as quickly as it had from previous recessions because it was struggling under unprecedented burdens, including the huge debts left over from the Reagan era. Among the new hardships were the steep regulatory costs of the Clean Air Act and the Americans with Disabilities Act. Boskin later bluntly told Bush that he was unlikely...
...peak, and experts say it will take a more robust rate of growth to make a dent in that figure. Typical recoveries since World War II have boasted growth rates of 5% and sometimes higher; by contrast, the current 2% rate is paltry, and unlikely to improve soon. Michael Boskin, chairman of the President's Council of Economic Advisers, last week said he expected the economy might inch toward a 3% growth in GDP by year's end, but he also said he could not rule out the possibility that growth would again flatten out. Asked to pronounce the recession...
Economists and politicians of many stripes charge that the 1986 reforms have dragged down the U.S. economy by punishing hard work, thrift and investment while encouraging Americans to borrow and spend beyond their means. Council of Economic Advisers chairman Michael Boskin argues that the 1986 law "sharply reduced incentives for investment, and we're paying a price for that in slower < growth." Liberals attack the current system as both unfair and unproductive. Robert Shapiro, a domestic-policy adviser to Democratic presidential front runner Bill Clinton, charges that "our tax code has been encrusted with layer upon layer of distortions...
...proposals to put federal money on the line for emerging technologies. Several senior officials who tried to steer federal help to strategic American industries were quietly relieved of their duties (most notably, former Pentagon technologist Craig Fields). Led by the free-trade triumvirate of Sununu, chief economic adviser Michael Boskin and Budget Director Richard Darman, the White House argued that market forces, rather than government, could best determine which technologies made it from the lab to the shopping mall...