Word: feds
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During the campaign, Bush's tax-cut plan seemed too grandiose to many voters. But layoffs, slipping economic indicators and a blessing from Fed Chairman Alan Greenspan made the idea credible--and now Washington can smell a big tax cut the way hogs smell slop. Politicians are scrambling to the trough. Some of their schemes are well-intended--Senate majority leader Trent Lott wants to change the alternative minimum tax so it doesn't take such a big bite out of middle-class taxpayers--but all of them threaten to grow the beast. Lott's plan would bring Bush...
After forays into Greenspan-land (where the Fed chairman muses that superpluses are "dangerously large") and then fantasy-land (where a tax cut passed in May can save the economy in March), the debate over George W. Bush's $1.6 trillion tax-cut plan is at last moving back onto familiar territory. Democratic and Republican congressmen crowding around microphones, arguing about what the federal goverment ought to do with its extra cash, and how big it ought to be after spreading it around...
...overtime, Suurkask was once again the unheralded hero. With Shewchuk in the box, Suurkask fed Botterill for the long breakout pass that resulted in the game winner. She did not pick up an assist on the play but was still instrumental in setting up Botterill...
...Good news for the markets, which detected yet another half-point interest rate cut on (or before) the Fed's March 20 meeting, and staged a little Tuesday-morning rally. And good news for the rest of us: The New Economy, and its attendant efficiencies, is here to stay. Consumers needn't start stuffing money under the mattress just...
...Dodd got Greenspan to agree that the "core" of his support of tax cuts was based on the notion of not paying down the national debt too fast - a possibility that nobody in Washington but Greenspan seems to take seriously. And Dodd also did his best to pin the Fed chairman down on what is fast emerging as Democrats' sharpest line of attack: "the trigger." If the surpluses don't pan out - and the way Schumer had it figured, the surpluses were already spent - shouldn't the tax cuts be able to be cut off, to save the balanced budget...