Word: terming
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Dates: during 1990-1990
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While deficit cutting is good long-term policy, the immediate effect is likely to be more pain. "We are raising taxes in the teeth of a recession," Ratajczak noted. "I am not sure that many people would call that a useful idea." Added Fosler: "The budget agreement was very much like spraying shrapnel. It was sort of an AK-47, as opposed to a target rifle, in terms of its impact on the economy. Lots of sectors are going to be paying higher fees and costs for public services...
...threatens to stifle growth for years to come. "We simply cannot go on doing business as usual in so intensely competitive a world," Sinai said. "This downturn may be a catalyst that will wake up the nation." If the recession does help inspire the U.S. to face its long-term economic problems, hard times could help achieve what eight years of debt-fueled prosperity could...
...long term, there has to be some rethinking of fiscal federalism," says Tony Hutchison, a senior policy specialist with the group. "We need to strike a balance to determine which revenues will fund which services at which level of government." In the short term, state lawmakers -- and state citizens -- will have plenty of opportunity to learn another dismal equation of the new budget math: lower revenues plus higher spending obligations equals big headaches...
Truth often begins as a form of blasphemy: the revelation of deception is a kind of honesty. The year witnessed a variety of examples of candor and a sense of coming to terms with reality. The wishful notion that we were embarking on a kinder, gentler year went out the window with the invasion of Kuwait. Facing facts was evident in everything from the distribution of condoms in public schools to the release of Nelson Mandela, to the movement for congressional-term limits, to William Bennett saying he wanted to leave politics to make money, to Marla Maples (allegedly) saying...
Lamar Alexander is used to cleaning up big messes. When he walked into the Tennessee statehouse in 1979, his first chore was to sweep up after the scandal-tainted administration of his predecessor, Ray Blanton. Last week the two-term former Governor and current president of the University of Tennessee took on another big political cleanup job. President Bush asked him to become Secretary of Education and revitalize that Cabinet post after the forced resignation earlier this month of the lackluster Lauro Cavazos. One of Alexander's first priorities, however, will be to help extricate his new boss from...