Word: cato
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Dates: during 1990-1999
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...give you more money!--but the polls showed a public unmoved. Voters said they would rather use the money, if it exists, to pay down the $5.6 trillion national debt. "People are genuinely fiscally conservative in this country," says Stephen Moore, an irrepressible supply-sider from the Cato Institute. Though personally he'd prefer deep tax cuts to spur growth, he finds in his travels that "a lot of people look at this mountain of debt and say, 'Gee, we really ought to start paying off the mortgage.' And the public really is onto this gambit of stealing from...
...comptroller of the Texas currency, who may become the Governor's best friend. Last week an additional $800 million was found in the Texas budget, which may provide enough money to allow Bush to claim credit for delivering another large tax cut. Good news is also coming from the CATO institute. The notoriously fussy Washington think tank gives the Governor high marks for holding the line on spending during his tenure...
Given the dearth of threats, some experts see no need for a 50-sub fleet. Ivan Eland of the Cato Institute, a Washington think tank, argues that a force of 25 is more than adequate. If the Navy kept its current submarines steaming for their planned 30-year lives and bought no new ones, the U.S. sub fleet would still not fall to 25 until 2017. That's not how they see things at the Pentagon, however. Its Defense Science Board recently urged the Navy to begin planning the next-next-generation attack submarine--one that will be better...
...Given the decline of the ruble, this was roughly the same as announcing an intention to pay off debt with green cheese. Investors, to no one's surprise, rushed to sell out, until the limp, overloaded markets finally shut down. Russia, deprived of international capital--James Dorn of the Cato Institute calls it "financial morphine"--went into shock. Explained Steven Halliwell, a partner at River Capital Management: "As far as we can tell, Russia is in an absolute panic situation...
...fundamental idea driving this revolution is that technology and finance have become one and the same. As William Niskanen, chairman of the Washington-based CATO Institute, puts it, "The distinction between software and money is disappearing." And nowhere is that truer than in the world of cold, hard cash...