Word: sidered
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...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 redesign his proposal to provide accelerated benefits...
...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 redesign his proposal to provide accelerated benefits...
...code. He said she faced a "tollgate" on the road to the middle class, and he ordered his economists to smooth the way. "I want a package that deals directly with this problem," he said. Through the summer and fall of 1999, Bush's economists, led by supply-sider Larry Lindsey, trooped down to Austin with proposal after proposal to lower the marginal tax rate for all payers and eliminate Bush's tollgate. But the smart guys could never quite satisfy the governor; he kept demanding rewrites until he was convinced the plan did enough for working families to protect...
...cuts--Please, let us give you more money!--but the polls showed a public unmoved. Voters said they would rather use the money, if it exists, to pay down the $5.6 trillion national debt. "People are genuinely fiscally conservative in this country," says Stephen Moore, an irrepressible supply-sider from the Cato Institute. Though personally he'd prefer deep tax cuts to spur growth, he finds in his travels that "a lot of people look at this mountain of debt and say, 'Gee, we really ought to start paying off the mortgage.' And the public really is onto this gambit...
...G.O.P. has no ideological box big enough to hold the people Bush has gathered; conservatives of every stripe are pitching in. Lindsey, for example, may be a tax-cutting supply sider, but he spent his time at the Federal Reserve fighting inner-city red lining by major banks. Al Hubbard, a onetime deputy chief of staff to Dan Quayle, pushed for massive deregulation of business during the 1990 recession and now squires kindred spirits to Austin. Fred Steeper, the Republican pollster with the best fingertip feel for independents, is likely to be back for his third George W. campaign, even...