Word: interesting
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Dates: during 2000-2000
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...view of many economists, interest-rate modifications are better than tax cuts as a way of combating slowdowns, in which case the main weapon of recession fighting would rest with Greenspan. All the same, Bush is hoping that he can get the Fed chairman to signal in some way that he too would agree to a big slice, perhaps during his upcoming testimony before Congress. Greenspan thinks the surplus should be used to pay down the national debt, but he would accept seeing some of it go back as a tax cut before he would allow Congress...
...Into the 1980s and 1990s, his fortune mushroomed. Forbes magazine regularly listed Schulz among the top 10 highest-paid entertainers in the United States, along with Bill Cosby, Michael Jordan and Michael Jackson. He took little interest in accumulating money, gave millions away to charities, insisting always that he was the same old Sparky Schulz. At his drawing table in his studio at One Snoopy Place in Santa Rosa, he drew with the same old pens, the same old nibs. He liked to say that he would stay at the desk until he wore a hole clean through...
...compromises with Israel. Moreover, the moderate Arab regimes on which Washington has traditionally relied to provide political cover for Arafat are themselves under increasing domestic pressure to distance themselves from Israel and the U.S. While a comprehensive peace appears beyond reach in the near term, the U.S. shares an interest with both the Israeli and Palestinian leaderships in containing the escalation of conflict...
...Greenspan has left Bush a handy platform in the meantime. A growing chorus of economists think Greenspan's last half-point hike in May was overkill, and that the slowdown is indeed happening too fast. The markets are demanding a full point of interest rate cuts from the Fed chairman in the next six months, and many expect him to begin with a surprise, pre-FOMC-meeting cut in the next few weeks, coming perhaps as soon as the next unemployment figures, due out in early January. That would only help Bush set a properly gloomy mood...
...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...