Word: krugman
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Dates: during 2000-2000
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...holding stock. The stock market's high returns over the last 50 years may have been unprecedented, but so was the recent rise in stock prices, which seems to indicate that investors have arbitraged away any misperceptions. Economists widely dispersed across the political spectrum, from MIT's liberal Paul Krugman to Harvard's conservative Waggoner Professor of Economics Robert J. Barro, have described past gains as a result of historical mispricings and written that there is little reason to expect stock gains to continue to outpace those of Treasury bonds. Indeed, some of Bush's closest advisors have argued that...
Unfortunately, this is the case. About half of the $1.6 trillion tax cut--that's more than half of the projected budget surplus, which is itself a wobbly estimate and is already being spent by Congress--will go to families with an income over $250,000. Princeton economist Paul Krugman estimates that even a family making $80,000 a year would get less than $20 per week off its taxes once the plan was fully phased in; a family making $1 million would get $1,000 per week. Giving surplus money back to the people is the backbone of self...
...always excellent Paul Krugman on the phantom surplus. Memorize...