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Faced with the lowest approval ratings of his presidency, George Bush is courting the female vote for 1992. One sign: he is thinking of packing the Cabinet with women. Joining LYNN MARTIN (Labor) and CARLA HILLS (Trade) may be BARBARA FRANKLIN, a management consultant, slated for Commerce. WENDY GRAMM, head of the Commodity Futures Trading Commission, might take over at Transportation. "It would be the first time a President has four women in his Cabinet," exults a Bush adviser. "It's our new campaign strategy...
Politicians rushed forward with nearly a dozen rival plans, including a move by Democratic Senator Daniel Patrick Moynihan of New York to revive his long- standing proposal to cut Social Security taxes. Not to be outdone by the Democrats, Senate Republican Phil Gramm of Texas and House minority whip Newt Gingrich of Georgia introduced wide-ranging legislation that repeated the Bush Administration's cherished call for reduced capital gains taxes. But a skeptical public remained unimpressed by all the ballyhoo and maneuvering. In a TIME/CNN poll by the firm Yankelovich Clancy Shulman last week, 77% of the 500 adults surveyed...
Bush shows every sign of wanting to take some strong action on the economy, but no surefire solution is at hand. He is unlikely to be helped by any Republican proposal that smacks too much of supply-side thinking. Last week Senator Phil Gramm of Texas revived a proposal for a cut in the capital-gains tax. Bush also touted the reduction, along with some other stimulants that he had proposed to Congress last year. The capital-gains cut, however, has become a symbol of Bush's supposed elitism. That won't fly in times like these, and Republicans know...
Reaction has been mixed. Gary Hufbauer, a Georgetown University economist, estimates that a Social Security tax cut would create a million jobs and thus add a million extra contributors to the trust fund. But Republican Senator Phil Gramm of Texas warns against "soaking the rich." Says he: "We should be debating tax cuts, but we shouldn't mess with Social Security. The system isn't broke: don't fix it." The plan's critics argue that it could cost the federal government $50 billion a year in lost revenue, a claim challenged by Moynihan...
...nation clearly is on the firmest ground when they are defending their own people," said Sen. Phil Gramm (R-Texas...