Word: deficit
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Dates: during 2000-2000
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...been Ronald Reagan's Middle East envoy and Nixon's ambassador to NATO, and he studied deficit reduction under Bush's father. Heck, Cheney was Rumsfeld's deputy when Rumsfeld was Ford's chief of staff...
...used to be the best bribe in politics, a payoff to the people that never failed to win support or votes. Then came Ross Perot and the Greenspan-Clinton deficit-reduction plan of 1993, which kicked off an eight-year economic paradise of balanced budgets, high growth and low inflation. Tax cuts, especially tax cuts for people that already had money, were selfish and irresponsible...
...Greenspan has told Congress debt reduction would be first on his economic wish list. Deficit reduction was his idea in 1993, and now that there's no deficit he'd like the next president to continue to whittle down the national debt for the same reasons: lower long-term interest rates, lower inflationary risks, less government spending on debt servicing. An all-around good thing...
...Greenspan kicked off the Clinton legacy in 1992 by selling the incoming president on deficit reduction, and in 2000 he'll be the gatekeeper for Bush's tax cut. This is also Greenspan's slowdown - he started it off himself with six interest-rate hikes that ended last spring, and if the soft landing gets ugly, it'll be Greenspan's shame, not Clinton's or Bush...
...business borrowers. For Bush, the prospect of a big across-the-board tax cut is more attractive than it's been in years, but he'd better make sure it's fiscally sound enough get a few kind words from Greenspan, who got the inflation-hawk bond markets behind deficit reduction by calling Clinton's first budget "credible" and "serious." Bush's must be worthy of similar praise...