Word: tariff
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Dates: during 2000-2009
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...29th president (though in reality, the non-Quiz Bowler names the 27th.) He was also able to recall that Taft was a rather large man. But it was up to Simons to relate that Taft had fired Gifford Pinchot. And authorized the passage of the Payne-Aldrich tariff...
...MILLION Tariff relief for wool importers...
Congress's initial rejection of the Bush Administration's $700 billion bailout plan calls to mind an unhappy precedent. Back in 1930, the Senate passed the Smoot-Hawley Tariff Act, which raised duties on some 20,000 imported goods. Historians define this as one of the critical steps that led to the Great Depression - a tipping point when the world realized that partisan self-interest had trumped global leadership on Capitol Hill...
...global. The combined output of the world's seven biggest economies declined nearly 20% from 1929 to 1932. The unemployment rate soared in the U.S. and Germany to a peak above 33%. World trade collapsed by two-thirds, not least because of retaliation to the Smoot-Hawley tariff...
George W. Bush has never been reluctant to frame policy debates in moral terms, targeting an "axis of evil," casting tax cuts as the removal of "unfair burdens" on hardworking people, calling tariff reduction a "moral imperative." But THRIFT is one virtue he never invokes, and a restoration of restraint is a strain of conservatism he seldom promotes. In fact, it was after the most tragic day in modern U.S. history, when Bush urged people who wanted to help to "go shopping," that profligacy officially replaced prudence as a patriotic duty...