Word: lindseyism
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Bush's bearishness may also reflect the influence of his chief economic adviser Larry Lindsey. The former Federal Reserve governor has been sour for so long on the economy's prospects that he cashed out all his stocks in 1997, when the Dow Jones average was still at 8,500. And for Lindsey, a dedicated supply sider, the remedy for recession just happens to be a tax cut. Most economists insist, however, that tax cuts have very little effect on recessions, largely because their benefits kick in too late to affect the problem. To pre-empt his critics, Bush could...
...Bush?s bearishness may also reflect the influence of his chief economic adviser Larry Lindsey. The former Federal Reserve governor has been sour for so long on the economy?s prospects that he cashed out all his stocks in 1997, when the Dow Jones average was still at 8,500. And for Lindsey, a dedicated supply sider, the remedy for recession just happens to be a tax cut. Most economists insist, however, that tax cuts have very little effect on recessions, largely because their benefits kick in too late to affect the problem. To pre-empt his critics, Bush could...
...Bush?s adviser Lindsey is a good friend of the Fed chairman?s. So are Cheney and Paul O?Neill, Bush?s choice as Treasury Secretary. Both worked with Greenspan in Gerald Ford?s White House. All of them will be going to work on Greenspan to persuade him that Congress would simply spend the surplus before it can be used for bill paying. And George W., whose father had notoriously frosty relations with Greenspan, has gone out of his way to court the chairman. A few weeks ago, after their get-acquainted meeting in Washington, he even squeezed...
...around, junior advisers who have all spent eight years in the private sector, made some money, and are ready to move up a couple of notches. Josh Bolten, who toiled in the Trade Representative's office for Dad, is in line to be the domestic policy chief. Economist Larry Lindsey, who did policy for W.'s father before being named to the Federal Reserve Board, is the favorite to take over the Economic Policy Council. Lindsey is the father of Bush's $1.3 trillion tax-cut plan; Bush must soon decide whether to try to pass it, toss...
From there, freshman guard Lindsey O'Neil took over. O'Neil hit a three-pointer from the corner, her second of the game, to put the Rams up 12 with five minutes...