Word: drag
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Greenspan and Clinton Treasury Secretary Robert Rubin felt that large deficits force interest rates higher because the government is competing with private businesses for funding. And higher interest rates, they thought, act as a drag on both the economy and the stock market. Hubbard dismisses that position, noting that no research conclusively links interest-rate increases to bigger deficits. He says rates will move up just .03% for every $200 billion of debt, or .22% for the $674 billion projected added debt. It's a small enough price, he argues, for growth that might lead to increased revenues that will...
Others disagree. William Gale and Peter Orszag of the Tax Policy Center say by 2011 rates will be 0.9% to 1% higher than they otherwise would be without a big deficit--a significant drag on any economy. Increases in budget deficits, they write in a page turner called The Economic Effects of Long Term Fiscal Discipline, "must produce a reduction in either domestic investment or net foreign investment. It must therefore reduce the capital stock owned by Americans and reduce future national income." Politics isn't as dense as economics, though, and the Bush people see no political risk...
...from pneumonia; in Los Angeles. A onetime furniture salesman who made his name with an impromptu late-1970s photo shoot of his not-yet-known friend Richard Gere, Ritts produced memorable photos of Elizabeth Taylor revealing her brain-surgery scar, Madonna grabbing her crotch, and singer k.d. lang, in drag, being shaved by Cindy Crawford...
Perhaps because both names are connected with golf, the high-minded reformers who want to drag the Augusta National Golf Club into the 21st century seem to have mixed up Tiger Woods with Bagger Vance--the angelic black caddy in the eponymous film who uses supernatural powers to help a white golf pro get over the yips and straighten out his love life. Or perhaps they have confused the world's best golfer with the hulking black convict in The Green Mile, played so powerfully by Michael Clarke Duncan, who never gets a chance to use his supernatural powers...
...Snow, Donaldson and Friedman are being prepped to tell the American public two things: 1. Tax cuts will jump-start the nation's sluggish economy. And 2. Said tax cut is worth it, even if it happens to drag us into a deficit. Both these messages need to sanded, finished and lacquered for public consumption by the middle of January, when President Bush will deliver his State of the Union address - the domestic cornerstone of which is expected to be economic revitalization. And so, as the new keys to the Bush economic message, Snow, Donaldson and Friedman are our People...