Word: enronizing
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Jeff Skilling did show up to testify, and he did indeed have, as he said, "a story to tell." He just wasn't in most of it. The opening statement Thursday of the former CEO (and COO before that) of Enron included all the phrases his congressional inquisitors would be hearing all afternoon: "I was not aware..." "I did not believe..." "I did not have any knowledge..." And of course, a liberal application of the one Ronald Reagan made famous: "I don't recall...
...most anticipated day of the House Committee on Energy and Commerce's Enron hearings since Ken Lay's no-show Monday, lawmakers easily positioned the cloud of blame over Jeff Skilling's relatively full head of executive-style hair. But they couldn't quite make it rain...
...Enronization" of budget politics has begun. To wit: Senate Budget Committee Chairman Kent Conrad says he was driving to work Monday morning and the thought occurred to him that "the biggest problem with Enron was that they were hiding debt - hiding it from their shareholders, hiding it from creditors, hiding it from themselves. I think that's exactly what the federal government is doing. The federal government is now engaged in hiding and understating debt...
...That same thought, coincidentally, is coming to a lot of other Democrats on their way to work. Last month Senate Majority Leader Tom Daschle, a key player in shaping the Democrats' messages, accused George Bush of "Enronizing the budget." Daschle didn't use the "Enron" word earlier this week when he issued his statement on the Bush budget. But he made it clear that Democrats planned to pounce on the baby-boom fears that their government retirement savings could vanish like Enron's 401K did. "The biggest victims" of the Bush budget, Daschle charged, "are people who depend...
...Angeles Times poll this week revealed that an overwhelming majority of Americans would rather cancel tax cuts in the future than raid Social Security to pay for them. Democrats think that reciting dry budget forecasts won't stir up the voters, but framing the debate around the Enron scandal will. Republicans disagree, arguing the public still perceives Democrats as the big spenders and the GOP as the party of fiscal responsibility. "Enronization" won't have legs, GOP operatives assure me. "It's kind of a cute tactic," says a senior House Republican aide. "But it will be viewed more...