Word: boskin
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With Sununu out of the way, the balance may shift toward the Administration's "do something big" faction, which includes Vice President Dan Quayle, Council of Economic Advisers chairman Michael Boskin and Housing Secretary Jack Kemp. In an appearance before the House Ways and Means - Committee last week, Boskin and Budget Director Richard Darman suggested that Bush would be willing to break the budget agreement to give the economy a shot in the arm by lowering taxes for the middle class. But when the hearings resumed after a luncheon break, Treasury Secretary Nicholas Brady, leader of the Adminstration...
...Boskin, backed by Quayle and Kemp, has argued inside the White House that the economy would benefit from a middle-income tax cut in the range of 1% of GNP, or about $57 billion -- a much bigger reduction than the Democrats have proposed. Such a stimulus would not significantly drive up interest rates or inflation, Boskin has argued, so long as caps are kept on future federal spending, as in the 1990 budget accord. Clearly the Administration's internal struggle over economic policy is far from over. The outcome will probably be determined by the positions taken by Bush...
...gunners were three White House aides: Budget Director Richard Darman, White House chief of staff John Sununu and Michael Boskin, chairman of the Council of Economic Advisers. The troika treated most measures that would compel conservation as unwarranted government interference in the free market. "Watkins' proposals just got blasted by Sununu, Darman and Boskin," says a White House official. "They just tore them apart...
...Word Most Desperately Avoided Federal Reserve Chairman Alan Greenspan called it a "meaningful downturn." Chief White House economist Michael Boskin dismissed it as a "lull." President Bush described it as a "slowdown." But by the end of the year, everyone saw it for what it was: a recession...
...once the crisis is finished, the U.S. has the ability to resolve its economic challenges, despite the increasingly global nature of economics today, Boskin said. "I'm cautiously optimistic that we will...deal with challenges the United States confronts...