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Beltway Beat by John McCaslin

May 1, 2002

Beltway Beat: Economic update

James Carter, former senior economist with the Joint Economic Committee, has his work cut out for him at the White House, where he now serves on the National Economic Council.

From his stack of incoming mail and memorandums, Carter came across these "Rare Moments of Fiscal Candor Throughout History," which he thought Beltway Beat readers would enjoy:

1407: "You have gold and I want gold; where is it?" - King Henry IV of England

18th Century: "Let them eat cake!" - Attributed to Marie Antoinette, Queen of France

1938: "We will spend and spend, and tax and tax, and elect and elect." - Harry Hopkins, director, Public Works Administration.

1954: "It's a terribly hard job to spend a billion dollars and get your money's worth." - Treasury Secretary George Humphrey.

1963: "There is one difference between a tax collector and a taxidermist - the taxidermist leaves the hide." - Mortimer Caplin, commissioner, U.S. Internal Revenue Service.

1984: "Mr. Reagan will raise taxes and so will I. He won't tell you. I just did." - Vice President Walter Mondale.

1995: "Probably people in this room are still mad at me, at that budget, because you think I raised your taxes too much. Well, it may surprise you to know that I think I raised them too much, too." - President Clinton

April 2002: "We will also never bring up the permanent tax cut the president is advocating." - Senate Majority Leader Tom Daschle, D-S.D.

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