Lawrence Lindsey
Lawrence Lindsey
Lawrence B. Lindsey was director of the National Economic Council, and the assistant to the president on economic policy for the U.S. President George W. Bush. He played a leading role in formulating President Bush's $1.35 trillion tax cut plan, convincing candidate Bush that he needed an "insurance policy" against an economic turndown. He left the White House in December 2002 and was replaced by Stephen Friedman after a dispute over the projected cost of the Iraq War. Lindsey estimated...
certainly fiscal policy supportive tax
He's certainly been very supportive of the president's fiscal policy and tax program.
dead dying fed hardly inflation problems starting
Inflation may be dying but it's hardly dead and buried. The world's problems are starting to infect the U.S. and that's what's going to keep the Fed on hold.
earn euro problems reserve
At the start, the euro is going to have problems as a reserve currency. It will ... have to earn its place.
analysis disagree
disagree on the analysis before they ever get to the remedies.
economy-and-economics problems starting
The world's problems are starting to infect the U.S. economy,
expect help white
They should expect no more help from the White House,
bank becomes bubble burst case central japan late states ultimately united united-states
As in the United States in the late 1920s and Japan in the late 1980s, the case for a central bank ultimately to burst that bubble becomes overwhelming,
almost changes erosion income increase percent profits seeing share total wages
Compensation's share of total income is down almost 1-1/2 percent over what it was in 1989. You could have a significant increase in wages and erosion in profits without seeing big changes in prices,
base cut fall floor provides tax
The tax cut provides enough of a floor that we don't fall too far. We'll have a base from which to grow.
happening unlikely
Because of what's happening in Asia, we are unlikely to see an acceleration of inflation,
business cash meet pay raise running
Right now, if you are running a business in Asia, you have to liquidate just about anything you can just to raise the cash to meet pay day,
advent anyone computers empirical establish finance half impact large public run second
At first, he was thought of as extreme, but later, with the advent of computers, he was able to run large databases and establish a very large empirical record. I can't think of anyone who's had more impact on public finance in the second half of the 20th century.
bought buy fourth insurance policy test
We really did need an insurance policy, and we bought an insurance policy just in time. The test is going to be: Did we buy a big enough insurance policy? And we will know in the fourth quarter.
bubble economy-and-economics emerging exert large pressure side
While it is not so large as to exert undue pressure on the real side of the U.S. economy, this emerging bubble is nonetheless real.