Word: deficits
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Dates: during 1980-1989
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...deficit is a time bomb with a lighted fuse," says Johnston, the senior Senator from Louisiana. "Bush's tendered solution, his 'flexible freeze,' is deja voodoo all over again. The idea that we can grow our way out of this mess is absolute nonsense. If Bush really believes he can do what has to be done without cutting into entitlements and defense and without raising at least some taxes, then he's smoking something. And if he thinks we Democrats are going to drag him kicking and screaming into taxland and take all the heat alone, then he's dreaming...
...Trade Representative. Last week's numbers notwithstanding, the trade deficit remains a major threat to the domestic economy. The next trade rep, with fast-track negotiating powers, will face a thorny round of talks with members of the General Agreement on Tariffs and Trade and the need to continue pressing Japan and other U.S. trading partners to open more of their markets to American exporters...
...rest of his economic team promptly and hold budget talks with congressional leaders before his Inauguration; he started Friday by having lunch with House Speaker Jim Wright. But all the while, Bush clung to his conviction, shared by Brady, that the economy could grow its way out of the deficit without new taxes or serious spending cuts. "Our most important priority is to keep our economy growing with low inflation," he said. "We must resist the policies that will impede that effort, such as raising taxes...
...told the National Economic Commission on Wednesday that the supply-side approach was "fanciful" and implied that Bush's "flexible freeze" plan for reducing the budget would not work. "If we do not act promptly," said Greenspan, "the imbalances in the economy are such that the effects of the deficit will be increasingly felt and with some immediacy...
...Sununu's reputation as a fierce opponent of new taxes will not reassure the financial markets about Bush's ability to cure the deficit. Nor will the appointment, expected this week, of the author of Bush's flexible-freeze plan, Stanford economist Michael Boskin, to head the Council of Economic Advisers. If the next Administration will not support new taxes, even for the rich, it must slash into defense (where Bush has vowed to pursue plans for new carrier battle groups and nuclear missiles) and into middle-class entitlement programs like Social Security and farm subsidies (which Bush has promised...