Word: feldstein
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...among Hispanics, and from 20.6% to 19.5% among blacks. Even the teen-age unemployment rate, the highest of all, declined from 23.6% to 22.8%. As for the overall total, it is already slightly below the 9.6% average that the Administration's official forecast, prepared by Feldstein, had predicted for the last three months...
...Great news!" crowed Ronald Reagan. "Spectacular . . . far greater than almost all previous forecasts," exulted his chief economic adviser, Martin Feldstein. Even Democratic presidential Front Runner Walter Mondale had to concede, "I am pleased, as are all Americans...
Moreover, as Reagan pointed out during a White House lunch with Hispanic leaders, joblessness "went down in every category, every group you could name." In fact, those people who had experienced the greatest difficulty finding jobs made some of the most striking gains. Feldstein noted that "the number of people out of work for 27 weeks or longer fell by 360,000, or more than 10%." A Labor Department statement added, "This was the first real decline in this very long-term jobless category in two years...
...prominent economists, mostly conservatives, are endorsing a consumption tax. They include Princeton's David Bradford, James McKie of the University of Texas, Stanford's Michael Boskin, and Alan Greenspan, who was chief economic adviser to President Gerald Ford. The idea is also bubbling within the Administration. Martin Feldstein, chairman of the Council of Economic Advisers, calls the consumption tax "appealing." Says Treasury Secretary Donald Regan: "In the long run, we have to have fewer taxes on savings. A move toward consumption taxes will probably be an absolute necessity if the U.S. is to remain competitive with other industrial...
...Administration last week was basking in the sunny economic figures. President Reagan told a group of congressional leaders that "our economic game plan is working" and will lead to a "strong recovery." Martin Feldstein, chairman of the Council of Economic Advisers, said that G.N.P. growth for the entire year could reach 5.5%, nearly double the 3.1% that the White House forecast in January. "The odds are," said Feldstein, "that [the recovery] is going to continue into next year and beyond." The business community was equally elated. Said Jack Albertine, president of the American Business Conference, an organization of medium-size...