Word: surplus
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Dates: during 2000-2009
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...David Broder, in his Washington Post column on Wednesday, and Harvard economist Richard Freeman and think-tanker Eileen Appelbaum in the New York Times on Thursday, all raise the admittedly intriguing idea of the "prosperity dividend." The gist: Wait until the surplus is a surplus before you send it back. At the end of the fiscal year, if there's money left over in the federal budget, simply cut every taxpayer in America a check...
...expect from Paul O'Neill. But expecting congressional Democrats and Republicans to scrimp and save every year in order to send Americans an annual surplus dividend for which they'd share the credit? That's a very long shot indeed...
...White House press secretary Ari Fleischer was happy to add a few bangs to the tax-cut drum. "We are seeing a government that is awash in surplus money, even with an economy that is softening from where it used...
...total projected surplus of $5.610 trillion, $2.488 trillion would come from the Social Security system, the Budget Office said, and, by agreement between the two parties (and Bush), will be off limits. The rest, $3.122 trillion over the next 10 years, is up for grabs, and setting half aside for tax cuts "for everybody who pays taxes," as Bush put it Tuesday (that would be a reaffirmation of his insistence on across-the-board cuts) is looking more and more reasonable...
...into a budget, which they will," Bush assured reporters after a White House meeting with Hill Republicans. But as yet, the administration is still working on the details. That's because O'Neill not only wants to head off what he can of the expected Democratic resistance - the booming surplus and sagging economy has raised their counteroffer up to $800 billion, but they're still fighting for income cutoffs for the wealthy and more targeted cuts for the poor - but he's also looking for ways to speed the cut's impact on the economy, like a retroactive decrease...