Word: sideration
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Meanwhile, Republicans in Congress are casting their own budget plans in recession-busting terms. Armey, a confirmed supply-sider, says a potential recession is more reason for the House to stand firm on big tax cuts. Republicans in the Senate, where they are skeptical about the House's tax-cut arithmetic, say it's more important to deliver on deficit cutting. Wall Street would like that too. And those crucial consumers-also known as voters? Ask them in November...
Former Buffalo Bills quarterback, congressman and Bush Administration housing secretary Jack Kemp today was tapped by the Republican leadership on Capitol Hill to head a feasibility study of broad GOP proposals to restructure the federal income tax system. The supply-sider will chair a commission of nine, four appointed by House Speaker Newt Gingrich and four by Senate Majority Leader Bob Dole, that will study competing Republican proposals.TIME chief political correspondent Michael Kramersays Dole may be trying to draw support from Kemp's followers for the1996 presidential race. "Kemp is a very valuable commodity in the party," says Kramer. "Anybody...
...ECONOMY. Though Reagan had to reverse a lifetime's preaching on balanced budgets to become a supply-sider, at least he had a plan for the economy; and unlike most modern Presidents, he concentrated on passing it. Domestic affairs are less glamorous than foreign policy. Richard Nixon compared them to sewer projects. Jimmy Carter gave the economy a couple of pages in his memoirs. Bush was even less interested than those men in conditions at home. He let others take care of that while he kept up his tag-team phone calls to foreign leaders. He was undoubtedly sincere when...
Eisner is no supply-sider, but many who are agree with him up to a point. Paul Craig Roberts, a former Assistant Secretary of the Treasury in the Reagan Administration and a leader of the supply-side revolution, believes that all the hand wringing over the deficit is misplaced. The worst thing about it, in Roberts' view, is that "it causes the government to keep doing the wrong thing to correct it" -- raising taxes of one kind or another and thereby inhibiting growth. "The deficit is only a problem if it continues to grow relative to the gross domestic product...
Jack Kemp Housing and Urban Development. The quarterback turned Congressman turned Cabinet member behaves like a grumpy Supreme Court Justice, squawking about Bush's policy on China and Lithuania. Supply-sider Kemp wants to replace Trade Representative Carla Hills, but that's unlikely...