Word: laffer
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...pressure for spending cuts. President Bush has actually said that deficits are a good thing because they put Congress in a spending "straitjacket." An essay by three conservative economists, including Nobel prizewinner Gary Becker, published in the Wall Street Journal in October, ranked starving the beast ahead of the Laffer Curve as a reason to cut taxes. But there is even less evidence that starving the beast works in real life than there is for supply-side theories. Two rounds of tax cuts and a fast-rising deficit under George W. Bush have not led to serious spending cuts...
...reality aside (as the President and Congress seem to have done). Does starving the beast make sense even in theory? Supply-side economics comes with a lot of intellectual paraphernalia, such as that famous Laffer Curve, drawn on a cocktail napkin. It may be nonsense, but at least it's clever nonsense (as Tom Stoppard once put it--though not about supply-side economics). Starve the beast, by contrast, is not a theory or even an assertion. It is barely more than a wish...
...what, precisely, would Schwarzenomics look like? Those who have talked to the actor say he has assured them that he adamantly opposes tax hikes. Economist Art Laffer--famous for a cocktail-napkin scribbling that became the basis for supply-side economics--is one of those whose advice the actor has sought. Laffer says Schwarzenegger told him, "I am the tax terminator." Although Laffer, a flat-tax advocate, has not formally joined the team, he may be asked to develop ideas for long-term tax reform. Others being consulted include former presidential candidate Steve Forbes and Michael Boskin, the Stanford University...
...much influence will Taylor have in Washington? Some say he may be to Bush what supply-sider Arthur Laffer was to Reagan. One key meeting to watch is the weekly get-together between Greenspan and Treasury chief Paul O'Neill. If Taylor starts showing up more regularly than, say, Deputy Secretary nominee Kenneth Dam, it may be a sign that the Administration is sending Greenspan a message. Or just a hint of Taylor's own ambitions. "There's no question," said one ex-Clinton official last week, "that this guy is talked about as a future Fed Chairman himself...
...getting hurt turned out to be pretty funny after all." said Margaret C. Lee '03...Jill Hill '00 caused quite a stir in the Winthrop dining hall Wednesday morning. The ninth-semester senior came to breakfast clad in warm-up pants and flip-flops. Identically-garbed Denise P. Laffer '01 was totally embarrassed...after extensive consultation with Dr. Hu of Atlantic Community Clinics, Gossip Guy was disappointed to learn that chronic masturbation is not an actual affliction. Nevertheless, he will continue to use this term to describe people like Samantha L. Watson '02...Freshman Alexander T. Schmidt '03 has been...