Word: greenspans
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Dates: during 1990-1999
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...stand an excellent chance of busting the budget, but good. If, in the next decade, the economy hiccups, or so-called "emergency" spending increases, or something unexpected simply comes up, that $3 trillion evaporates pretty fast. So why can?t I say no to both? That?s what Alan Greenspan said to Congress last week, although neither side seemed to want to hear it that way. Set the surplus aside, said Sir Alan, because it?s not even paper money yet, and because Americans might really need a tax cut someday. (Oh ?- and he really hates inflation...
...White House President Clinton is taking no chances. Democrats in Congress are still united behind him against Republican-sized tax cuts; the public appetite for them is still negligible. Alan Greenspan, that avatar of avatars, is still mostly on his side. But just in case anyone was wavering as the newly unified GOP plan hit the papers Wednesday, the White House shifted their pre-negotiation negotiations into high gear with the same strategy that got him through the last six years: stay on message and stay on television. "If they conclude this plan and send it to me," Clinton said...
...there are plenty of new views about Japan. The most popular is that the country finally has the kind of policy guidance it needs to get turned around. That leadership takes a variety of forms. The Bank of Japan, for instance, has been telegraphing with very un-Greenspan-like candor that it intends to keep short-term interest rates near zero. At the same time, an encouraging amount of "micro-reform" is under way in Japan--tiny revolutions in entrepreneurial companies that may forge a Japan built for the Internet age. As some Japanese like to observe, they spent...
...seems a little odd," says Cynthia Latta, principal U.S. economist for Standard & Poor's DRI. "Its support comes from the assumption that if [the surplus] is not handed back to taxpayers, the government will just use it for more programs." Latta's fellow critics include Federal Reserve Chairman Alan Greenspan, who warned last week that "the timing is not right" for the House measure, which calls for a 10% across-the-brackets cut in income taxes and a reduction of the 20% rate on capital gains to 15%. Translation: the proposals could overheat a strong economy and ignite inflation. Says...
...Greenspan left the question open, like a warning, and laid down his picks and pans: Debt reduction, which would lower interest rates and free up investment capital -- good. New spending, which neither party trusts the other to lay off of -- bad. Saving for the future ?- good. Putting all your eggs in one tax-cut basket and hoping for the best -? bad. All in all, Greenspan signed off on a rather conservative, rather Republican philosophy. It?s just that the Republican who?s getting all the credit for it is Bill Clinton...