Word: dollarized
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Dates: during 2000-2000
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...TRILLION-DOLLAR HOLE By allowing workers to divert part of their payroll taxes to private accounts (Bush hasn't said how much this would be; the fraction his advisers throw around is one-sixth), Bush cuts the size of the Social Security surplus almost in half, reducing it about $1 trillion. And not using that money for debt reduction adds an additional $300 billion to the government's interest bill. These costs (along with his $1.6 trillion tax cut) mean it will take longer for Bush to eliminate the national debt, leaving less money in the future to guarantee Social...
Initially, there were grand plans for the euro to replace the dollar as the currency of choice in international trade. That never developed, and now the euro is on a prolonged descent that all but assures it will remain second fiddle to the buck. Why? To stretch an Olympic metaphor, the gold-medal U.S. economy has been sticking the landing for years, while Europe's economy, like Khorkina, has at times stumbled to the mat. The U.S.'s stability has attracted foreign investment at a brisk pace, tending to bolster the dollar...
...squabble over the richest 1% is both symbolic and a bit silly. Obviously, any across-the-board tax cut is going to deliver the biggest dollar savings to the wealthiest Americans - they are after all the ones paying the most tax. Bush's conservatism tells him that no one should have to hand over more than a third of his paycheck to the Federal Government and that a big tax cut strangles future government spending, stimulates the economy and, yes, trickles down. But he knows he can't sell the tax cut by talking about the fairness of giving high...
...power and real estate at fever pitch. A commanding voice breaks out over the din: "Space, resources and money. It's about who controls that, and how they're distributing it." Mutterings can be heard. A dark-haired senior with horn-rimmed glasses grumbles about "having a 19-billion dollar endowment and no equipment," while the blond female mentions grants, budgets, and out-of-pocket expenses. And finally, a soft-spoken young man quietly mentions "the Administration...
...Angeles, I went on strike. I staged the walkout on the second floor of Fred Segal, the colorful Melrose emporium where hipsters like Charlize Theron and Michael Stipe roam among the Oliver Peoples sunglasses, Kate Spade luggage and the kinds of clothes made possible by perfect physiques and first-dollar gross participation. I went because Fred Segal was having a sale. "Up to 75 percent off!" they promised. A white shirt on a sale rack caught my eye. I liked it because the fabric weave contained nearly indiscernible but daring white circles. The shirt cost...