Word: cato
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...comptroller of the Texas currency, who may become the Governor's best friend. Last week an additional $800 million was found in the Texas budget, which may provide enough money to allow Bush to claim credit for delivering another large tax cut. Good news is also coming from the CATO institute. The notoriously fussy Washington think tank gives the Governor high marks for holding the line on spending during his tenure...
Given the dearth of threats, some experts see no need for a 50-sub fleet. Ivan Eland of the Cato Institute, a Washington think tank, argues that a force of 25 is more than adequate. If the Navy kept its current submarines steaming for their planned 30-year lives and bought no new ones, the U.S. sub fleet would still not fall to 25 until 2017. That's not how they see things at the Pentagon, however. Its Defense Science Board recently urged the Navy to begin planning the next-next-generation attack submarine--one that will be better...
...Given the decline of the ruble, this was roughly the same as announcing an intention to pay off debt with green cheese. Investors, to no one's surprise, rushed to sell out, until the limp, overloaded markets finally shut down. Russia, deprived of international capital--James Dorn of the Cato Institute calls it "financial morphine"--went into shock. Explained Steven Halliwell, a partner at River Capital Management: "As far as we can tell, Russia is in an absolute panic situation...
...fundamental idea driving this revolution is that technology and finance have become one and the same. As William Niskanen, chairman of the Washington-based CATO Institute, puts it, "The distinction between software and money is disappearing." And nowhere is that truer than in the world of cold, hard cash...
Fixing what's wrong with the system is no trickier than preserving the parts that work. But first the country has to understand which is which. Everyone from the libertarian Cato Institute to the American Association of Retired Persons is ready to offer a different answer, but for now all agree that the main thing is to get people thinking about the issue--something the President alone is positioned to do. That Clinton has seized this moment is testament to political instincts and probably no small amount of polling. What he does with this moment will say something about...