Word: lindseyism
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...Lawrence Lindsey, Bush's designated chief economic adviser, does happen to believe that big tax cuts can pay for themselves with economic growth. Reagan thought so too. And because heavy congressional spending arguably did as much to create Reagan's massive deficits as his tax cuts did, the philosophical debate goes...
...There's really no way of knowing," said Porter, who held Lindsey's new position in the Ford, Reagan and Bush administrations. "We can hardly tell what they're going to be three months from...
...position, Lindsey will have to strike a balance between offering personal advice to the president and synthesizing the views of other agencies. The individual best suited for the job is one who "doesn't have his own ax to grind" Porter says. "[You] must remember who the voters elected, and that you serve...
Porter says that as Bush's chief economic adviser, Lindsey must offer a "heavy dosage of reality" to the president...
Above all, Porter offered Lindsey these words of advice for surviving the pressures of his new position...