Word: budgeting
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Dates: during 1990-1999
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What happens when conservatives die and go to heaven, and discover they may not like it there after all? Surely this moment in American history is as close to paradise as conservatives could ever have dreamed. The budget is not just balanced; it is running a surplus so big that it could total $6 trillion over the next 15 years. A Democratic President travels to the poorest corners of the country, such a convert to the miracles of private enterprise that he brings with him not a bushel of federal promises but a bunch of business leaders whom...
Because as they look back on how they got here and at what lies ahead, some crusaders realize they may have missed the chance of a lifetime. By making a balanced budget the Holy Grail, conservatives never got around to the conversation they really care about: What size budget should be balanced? One trillion? Two? Half a trillion? How much of the nation's wealth should remain in private hands, and how much controlled by the federal Treasury? Hardly anyone imagined the day would come when the brakes came off, the deficit vanished and it would be possible to balance...
...lock the future Social Security surpluses away to pay down the debt, while also talking tax cuts and the largest expansion ever in Medicare. He has proposed a $156 billion "Children and Education Trust Fund" as well as new retirement-savings accounts. It's almost enough to make the budget hawks wish for recession...
...government expects to find under the mattress. So much depends on the projections' being right, when the happiest news of the year has been how wrong they turned out to be. Five years ago, the deficit for 1999 was projected at $207 billion. Last February the budget office announced instead we would run a $79 billion surplus; just four months later, it was $99 billion...
...hockey rink in a lower-income section of southeastern Washington, D.C., some parents from more affluent communities banded together and raised enough private and corporate dollars to save it. Today Fort Dupont Ice Arena provides free skating instruction to some 2,500 local kids, with its $500,000 annual budget funded through admission fees, fund raisers and sale of ice time for practicing hockey teams from private schools and local colleges. Says rink general manager Fred Wilson: "The greatest reward we get is seeing the expression on the faces of these kids when they step...