Word: trillion
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Well, we've got a $1.95 trillion, 4-percent-growth, fiscal 2002 budget deal, with all the fixings...
...headliner, of course, is the tax cut. Now placeholding $1.35 trillion over 11 years (down from $1.6 trillion over 10), the details are henceforth largely in the hands of the House Ways and Means committee, which has the votes to pass whatever the gung-ho GOP leadership wants, and the Senate Finance committee, which doesn...
...twin passages this week, which were themselves the result of previous House and Senate votes and the resultant House-Senate conference negotiations, mean that Bush only needs 51 votes in the Senate to get at least the $1.35 trillion he's been promised. Anything more, however, is subject to a Democratic filibuster, and, well, the 60 votes to top that will be very hard to come...
...wait of as long as 25 years and 168 often venal bureaucratic steps. As a result, the Third World's poor--two-thirds of the world's population--have little choice but to work outside the legal system. De Soto estimates the value of their extralegal property at $9.3 trillion--about as large as the annual GDP of the U.S. economy. More than two-thirds of Latin America's construction is never legally registered--a big reason, De Soto found, why cement sales in Brazil bear little relation to official building figures. "We show a President the extralegal...
Koizumi isn't a Johnny-come-lately to the reformist cause; he has long championed privatizing the postal system, where Japanese have squirreled away more than $2 trillion in savings. But he's no outside agitator either. He fills a parliamentary seat that was occupied by his grandfather and father, and last fall he held back from supporting a longtime ally's abortive coup against Mori. There was also a fair bit of back-room politicking on Koizumi's behalf. At a dinner in a plush Ginza restaurant in mid-April, half a dozen conservative stalwarts, including former Prime Minister...