Word: surplus
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...know how Greenspan feels about reducing surpluses via additional spending - he doesn't like it. And that leaves tax cuts, which by halfway through the speech were an integral part of a budget strategy "that is consistent with a preemptive smoothing of the glide path to zero federal debt" and aimed at "making the on-budget surplus economically inconsequential when the debt is effectively paid...
...During the Q&A that followed, Maryland Democrat Paul Sarbanes accused Greenspan of "making a considerable contribution to that dissipation" with all this surplus talk, but then followed that with a major faux pas: "I take it interest rates will be reduced further next week?" (Greenspan only smiled behind his hand, and the betting remains that Sarbanes is right.) The dissipation - Greenspan bemoaned in particular the pork-barrel parade at the end of October's budget negotiations - is a Hill thing, and there the responsibility stays. The message: If Bush's tax cut busts the budget, it'll be your...
...Abraham extended just-departed Energy Secretary Bill Richardson's standing order to force western energy suppliers - and the neighboring states they supply - to continue selling their surplus electricity to California and its drowning-in-debt utilities. This despite the wide-open question of whether the utilities (or anyone else) will ever pay them for the juice...
...Because the economy is great - never better, according to some. Public finances are in great shape, the government has a big surplus, growth is high and there's no sign of inflation. Conservative Party leader William Hague has not caught the country's imagination. They've got some pet issues, such as rising crime and opposition to Britain adopting Euro. But the government is not giving them very much of a target. There may be a lower turnout in this election, and Blair's margin of victory may be smaller in light of creeping disillusion among many voters who voted...
...with a 54-year-old ex-president with a restless brain and a surplus of charisma, this was the part we were waiting for - "I'll leave the presidency more idealistic, more full of hope than the day I arrived and more confident than ever that America's best days lie ahead." Question: Was he therefore that deeply cynical when he entered the Oval Office...