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LINE ITEM VETO: A policy intended to address the efficiency caused by legislative logrolling by giving executive officers who have veto authority over legislation (Presidents, Governors, Mayors), the ability to veto specific sections of a legislative act rather than the entire act. With a standard veto, the executive vetoes the entire piece of legislation. With line item veto, the executive can veto only parts of the legislation while signing the rest of it into law. While a line item veto is likely to reduce logrolling, it effectively gives the executive officer more power and authority.
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INFLATION PROBLEMS Two notable problems are associated with inflation--uncertainty and haphazard redistribution. Inflation, especially inflation that varies from month to month and year to year, makes long-term planning quite difficult. Prices, wages, taxes, interest rates, and other nominal values that enter into consumer, business, and government planning decisions can be significantly affected by inflation. Moreover, inflation tends to redistribute income and wealth in a haphazard manner--some people win and some people lose. This redistribution might not be that desired by society, failing to promote any of the basic economic goals of efficiency, equity, stability, growth, or full-employment.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"In every man's life there lies latent energy. There is, however, a spark that, if kindled, will set the whole being afire, and he will become a human dynamo, capable of accomplishing almost anything to which he aspires. " -- James Cash Penney, retailer
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ACRS
Accelerated Cost Recovery System
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