Word: kasich
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Your series on what corporate welfare costs Americans [SPECIAL REPORT: CORPORATE WELFARE, Nov. 9-Nov. 30] comes at an opportune time for those of us who have been challenging these wasteful taxpayer giveaways for decades. House Budget Committee chairman John Kasich has told me he will hold comprehensive hearings on this issue early next year. These will be the first such hearings to cover the broad spectrum of government subsidies, bailouts, giveaways and other assorted upward distributions of income from working families to corporations. Your series has provided a greater public understanding of this neglected dimension of Big Government...
WASHINGTON: For John Kasich, this was like a primary win. The GOP budgetmeister and fiscal watchdog got a new line on his Kasich 2000 résumé Friday when the House approved a GOP plan to slice domestic spending by an additional $101 billion through 2003 and trim taxes by the same amount...
...Kasich got the blueprint past queasy moderate Republicans in fine candidate style: with a little coalition-building. The House's tax-cut standard bearers -- Kasich, Gingrich, Dick Armey, et al -- promised that the plan's harshest characteristics would surely be softened in negotiations with the Senate anyway, so why not show a little short-term solidarity...
...worked, and Kasich gets another notch on his budget knife. "This is his résumé," says TIME congressional correspondent John Dickerson. "He knows how difficult it is to run for president from the chaotic House, so he needs to develop a track record of being the one true man among the scoundrels -- the keeper of the flame." Kasich's larger problem is with the political and economic tides; with the budget surplus estimated at $34 billion and counting, shrinking the government just doesn't seem as urgent as it used...
...Greenspan's message: lawmakers shouldn't get cocky about budget deals and decreasing deficits; the juggernaut economy deserves the credit ? and what it giveth, it can surely taketh away. He urged John Kasich and the rest of the committee to start stockpiling budget surpluses, because dark clouds are always gathering. "The law of supply and demand has not been repealed," Greenspan read. "If labor demand continues to outpace sustainable increases in supply, the question is surely when, not whether, labor costs will escalate more rapidly." Translation: inflation still lurks in the heart of the boom. And the Fed is watching...