magic asterisk
an unspecified future budget cut, especially an imaginary cut.
Meaning adapted from Wiktionary, available under CC BY-SA 4.0.
“The budget relies on a magic asterisk to cover the costs.”
“He uses a magic asterisk to explain how he will pay for the car.”
“That magic asterisk in your report does not count as a real saving.”
“The politician promised lower taxes, but critics argued the plan relied on a magic asterisk to balance the books.”
“The company's growth plan looks great on paper, but it uses a magic asterisk to hide the fact that they are losing money.”
“Experts worry that the new law depends on a magic asterisk instead of actual savings from the healthcare system.”
“By including a magic asterisk in the financial forecast, the administration avoided explaining exactly where the necessary spending cuts would occur.”
first recorded 20th c.
Coined by Howard Henry Baker Jr., the term originated in 1981 during the Reagan administration. It refers to the use of asterisks in budget documents as placeholders for spending cuts that had not yet been identified or decided upon, suggesting a reliance on future budgetary miracles to achieve fiscal balance.
- 01
magic box
Television.
- 02
magic bullet
A simple remedy for a difficult or complex problem, especially a cure for a disease.
- 03
magic touch
An ability or skill to produce highly favorable results in an impressive way.
- 04
white magic
Magic derived from good or benign forces, as distinct from evil or malevolent forces; or magic performed with the intention of doing good or giving aid.
- 05
work one's magic
To achieve something favourable and desired through the application of special skills, talents, or expertise.
Last updated August 10, 2026