Word: trillion
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...knew selling a trillion-dollar tax cut could be so hard...
...then came the surplus, a $4.6 trillion paper windfall on which Al Gore and George W. Bush sketched out their competing ideologies and Clinton presented as his legacy. But voters, rightly, were a little skeptical...
...across-the-board debate reared its head as a partisan issue. But in the fight for the swing voters who had slowly learned to love fiscal discipline, tax cuts were not high on their presidential to-do list. Perhaps the best that could be said of Bush's $1.3-trillion-dollar baby is that it didn't cost him the election...
...Bush's fault; he's just reading the headlines aloud and softening up the ground a little for his $1.3 trillion tax cut. It's not Clinton's fault, though it's still on his watch; the economy, with a lot of help from global doldrums (Japan just keeps getting worse and worse), is coming in for a rate-hike induced landing after a torrid spring...
...University of Michigan, is at a three-year low. Given the drubbing on Wall Street this year, that's not surprising. As the NASDAQ soared in the past few years, the market created a so-called wealth effect, emboldening people to throw money around freely. That was before $2 trillion of their equity was wiped out this year...