Word: reaganism
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Dates: during 1990-1999
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...heart of his fiscal crusade is his flat tax, a plan derided as "deja voodoo" by economists who blame Reagan's supply-side tax cuts for the explosion of the national debt. He has captured perfectly the fury Americans feel for a system they think treats them like suckers while the rich enjoy a secret tax code written just for them--notwithstanding that his flat tax could favor the rich even more effectively. But his appeal is not only to apparent fairness and simplicity, the allure of a tax return no bigger than a postcard. The plan is also...
...favor of sending American peacekeepers to the Golan Heights. But it was his statement suggesting that the U.S. move "ahead with a sensible anti-ballistic missile defense system" that may invite more snickering from his opponents. The multi-billion-dollar "Star Wars" system, championed by Ronald Reagan, was derided by Democrats and eventually abandoned by most Republicans as too costly and ineffective. But it lives on in the hearts of defense contractors. "In fact, Star Wars never died," says TIME's Mark Thompson. "It went from butterfly to moth to larva to caterpillar; which means, basically, from weapons in space...
Friedman has authored a number of books and articles about deficits, including a critique of the Reagan-era deficits and an analysis of the impact of Clinton's budget on the deficit...
That's a difficult argument to win, since Rubin's actions so far have been authorized by a statute passed while Ronald Reagan was in office. Meanwhile, with the G.O.P. budget plan itself calling for the debt to rise toward $6 trillion over seven years, a renewed debt-limit showdown can't help looking hypocritical. The Administration won't say what happens next if the limit isn't raised soon. But there's more than $1 trillion in trust funds and plenty of gold in Fort Knox that might be temporarily "reclassified" if the G.O.P. won't budge...
...spectrum handout is a classic example of how government subsidies live on after their rationales have expired. The giveaway was originally conceived by the Reagan Administration as a way to bolster American firms in a race with Japan to develop a new technology called High-Definition Television. Then hdtv was eclipsed by so-called digital television, which promises extra-sharp pictures and CD-quality sound. The Japanese are barely in the digital race, but the fcc decided to ladle out the frequencies anyway...