Word: feldstein
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Economist Martin S. Feldstein '61 left the noisy streets of Cambridge this summer for the hushed conference rooms of the White House, where he will remain indefinitely as one of President Reagan's ranking economic advisors. The prominent conservative theorist faces perfunctory Senate confirmation hearings this month before he takes over as head of the President's Council of Economic Advisors Feldstein, who joins a large contingent of Harvard-affiliated advisors in the Administration, plans to return to his post in the Economics Department within two years--the maximum allowed for those who wish to retain tenure...
Economist Martin S. Feldstein '61 left the noisy streets of Cambridge this summer for the hushed conference rooms of the White House, where he will remain indefinitely as one of President Reagan's ranking economic advisors. The prominent conservative theorist faces perfunctory Senate confirmation hearings this month before he takes over as head of the President's Council of Economic Advisors Feldstein, who joins a large contingent of Harvard-affiliated advisors in the Administration, plans to return to his post in the Economics Department within two years--the maximum allowed for those who wish to retain tenure...
Like his predecessor Murray Weidenbaum, who resigned to return to teaching. Feldstein is known for his agreement with the Administration's efforts to trim deficits by cutting non-defence spending. But government analysts are unsure how Feldstein will handle two issues which apparently discouraged Weidenbaum during his tenure the Administration's enthusiastic predictions of economic recovery in the face of high unemployment and interest rates and the President's determination to extend his overall tax-cut program through a planned third year...
...reserved, balding man, Feldstein has quietly voiced strong opinions that seem to belie his gentle manner. He has argued that the food-stamp program has increased the ranks of those dependent on government aid, that Medicare and Medicaid have led to overuse of hospitals and an explosion of medical costs, and that generous Social Security benefits have undermined Americans' incentive to save for their old age. Feldstein will be an articulate ally for Budget Chief David Stockman in trying to convince Congress that the growth of these social programs should be slowed...
...While Feldstein has in general staunchly supported the President's drive to reduce federal taxes, he has also expressed fears that the Administration and Congress are letting the budget deficit run out of control. On several occasions, he has suggested that the third installment of Reagan's personal income tax cut, a 10% reduction due next July, be postponed to bring the budget closer to balance. In meetings last week with Reagan's top aides, Feldstein insisted that he would stick to this position in White House deliberations, despite the President's firm opposition...