Word: murrayism
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...this year the spark just doesn't seem to be there. The pitching--once without question the best in the league--has been horrific, as the team ERA is near 5.00. But more ominous, a failure to execute fundamentals has killed the Birds, cancelling out slugger Eddie Murray's MVP year thus...
...Murray Weidenbaum, the chairman of the President's Council of Economic Advisers, is more cautious. Last week he predicted a 6% inflation rate for the year as a whole. He added that the price news was "excellent" but warned that it was too early "to declare victory in this...
...some interest-rate relief by summer, but they also warn that the prospect of a 1983 federal budget deficit that could run as high as $180 billion may send the cost of money surging once again by the end of the year. In testimony before Congress last week, Murray Weidenbaum, chairman of the Council of Economic Advisers, urged the lawmakers to reach a compromise with the President that would cut the deficit. That, he said, plus the decline in inflation, would bring down the cost of borrowing...
...Murray's research draws criticism from such liberal economists as Charles Schultze and Barry Bosworth of the Brookings Institution, who point out that the thesis ignores noncash aid from the Government, including food stamps and Medicaid. If such benefits are counted, they say, fewer Americans are poor than Murray's statistics indicate, and thus Government spending has been more beneficial than he acknowledges...
...Murray, however, food stamps are a feeble substitute for the jobs and cash income that are generated by a thriving economy. Says he: "The record clearly shows that measures to stimulate G.N.P. and create wealth at the top can do more good for people at the bottom than larger welfare payments. Conservatives just haven't done their homework and publicized the hard fact that trickle-down economics works...