Word: lindseyism
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...then the surplus estimates are incorrect, meaning that in a few years we may not have any money to spend on tax cuts. Additionally, gradually phasing in a long-term tax cut plan will not have any immediate effect on a recession--Bush's top economic advisor, Lawrence B. Lindsey, has written that tax cuts have too slow an effect to be useful in fighting recessions. Fighting a short-term recession is better left to the Federal Reserve and its chair Alan Greenspan--Clinton's experience with the 1993 tax hike makes clear that over the long haul, debt reduction...
...contrast, when I look at Bush's senior staff (and I do mean senior), all I can think is "shuffleboard at 3, prune juice cocktails at 4 and dinner at 5." Most look like retirement-age males, including the women. The one exception to this rule is Larry Lindsey, who, bearing a strange resemblance to Jabba the Hut, really belongs in Clinton's cabinet. For the most part we do not yet know Bush's people yet, and so we are not yet entirely comfortable with them. And until we get to know Bush's team better, we will miss...
...Lawrence Lindsey Economic Policy Adviser Gets the wood-paneled office that once housed Bob Rubin, and he'll hope to have as much influence...
Bush's senior economic adviser, Larry Lindsey, has the task of figuring out what to do about California. One stopgap: renew the Clinton Administration's order that power and gas companies across the country transfer their excess capacity to the Golden State. But diplomacy may be the most effective arrow in Bush's quiver. He plans to place energy on the national-security agenda and lobby OPEC to pump more oil. Although the cartel last week announced production cuts, which pushed prices higher, some key members, such as Kuwait and Saudi Arabia, remain grateful to Bush's father for winning...
...Whether he and the supply-sider Lindsey will get along - and which of them will have Bush's ear on fiscal policy if they don't - is another question entirely. And neither O'Neill, Lindsey or Bush has given much public thought to the economies beyond American borders. But for the time being, people from Wall Street to Main Street just getting to know O'Neill can imagine him as sort of a Greenspan in street clothes, a Republican fiscal pragmatist who loves crunching numbers and getting his hands dirty, even if his plainspoken days may soon be behind...