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Wielding the same pen Lyndon Johnson used to sign both Medicare and Medicaid into law, President Clinton formally scrawled his veto signature over the Republican balanced-budget plan. To replace what he called the G.O.P.'s "extreme" and "wrongheaded" blueprint, which would remake the Federal Government in a more conservative image, the President presented Congress with his own balanced budget--his third of the year. Clinton offered to trim Social Security raises; to cut a bit more out of some domestic programs, including welfare; and to hold the line against deep slashes in education, environmental protection, health care and taxes...

Author: /time Magazine | Title: THE WEEK: DECEMBER 3-9 | 12/18/1995 | See Source »

Wattenberg, 62, a columnist and think tanker for the right-leaning American Enterprise Institute, makes much of his Democratic credentials: if he refers to his years as a speechwriter for Lyndon B. Johnson once, he does so a dozen times. He lays out his lifetime voting record, which reveals he is that mottled beast, a Reagan Democrat. He voted for Bill Clinton in 1992. And so he presents his book essentially as an open letter to Clinton, describing how the President has strayed from the centrist positions that got him elected and suggesting ways in which he--or whoever captures...

Author: /time Magazine | Title: BOOKS: IT'S VALUES, STUPID! | 12/4/1995 | See Source »

...this score there is scant dissent. No one since Lyndon Johnson has been a more effective Senate leader. Dole is the master of the half loaf. He trades with those who hold high cards for whatever he can extract in policy or political terms. In the past few months of high drama, as Congress sought to enact the G.O.P.'s budget, Dole's work on welfare reform displayed both his mastery of the process and his underlying ideology...

Author: /time Magazine | Title: WILL THE REAL BOB DOLE PLEASE STAND UP? | 11/20/1995 | See Source »

...exceptional election when Americans are not lamenting "How did we come to this?" In 1964 Lyndon Johnson was a drawling Texas mess we inherited after ex-playboy J.F.K. was martyred into his golden nimbus. Johnson's opponent Barry Goldwater was a thermonuclear psychotic. So thought everyone to the left of Mayor Daley...

Author: /time Magazine | Title: THE MAN WHO WASN'T THERE | 11/20/1995 | See Source »

...happens, a classic treatise on these sorts of upsides and downsides of capitalism was written by the same economist who invented the misery index--Arthur Okun, Chairman of Lyndon Johnson's Council of Economic Advisers. In 1975 he published a book called Equality and Efficiency: The Big Tradeoff. Its point was that there is natural tension between the two halves of its title. Redistributive taxation, minimum wages, unemployment insurance and the like may enhance equality, but they impede overall efficiency and growth. Ideology is partly a question of which side of the tradeoff you favor...

Author: /time Magazine | Title: INCOME INEQUALITY: WHO'S REALLY TO BLAME? | 11/6/1995 | See Source »

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