Word: taylors
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Dates: during 1990-1999
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Stanford economist John Taylor was supposed to draft a plan by June, but that proved undoable. Meetings and memos continued all through that month and into July. Dole stopped by some of the meetings but would listen only 30 minutes or so and then leave. "We're talking and arguing back and forth, very academic," a participant in one meeting recalls, "and Dole is looking at his watch. 'You're a bunch of smart guys,' he said. 'Get something on paper.' And then he was on to the next issue." That was classic Dole: let others work out details...
While these wrangles were going on, Taylor and his fellow economists were working to insulate Dole from charges that he was making pie-in-the-sky promises. Many economists believe that the government would eventually get back 50% to 60% of the revenues initially lost through tax cuts, because faster economic growth would boost incomes subject to tax. To be conservative, though, Taylor reduced the figure presented to Dole...
...Taylor was constantly checking with Domenici to make sure that he could find enough spending reductions to offset $500 billion to $600 billion in tax cuts and still balance the budget by 2002. At a meeting on July 13, Domenici said he could do it. He also warned that those cuts would be extremely difficult to make politically, but that did not seem to set off any alarm bells...
...meetings, memos and all kinds of frenzied activity continued. As late as August 1, Dole asked aides to rerun the numbers on no fewer than eight different proposals. "We went over this ground months ago," complained a staff member. The final, official, out-loud decision was apparently communicated to Taylor, but he does not remember exactly when it came or what words Dole used. Aides were still working through the morning of Aug. 5 preparing press-briefing books for the public announcement that afternoon...
Head Coach: Tim Taylor, 19th season...