# magic asterisk

idiom

Source: https://englishreference.com/idiom/magic-asterisk
Updated: 2026-08-10

## Meaning

an unspecified future budget cut, especially an imaginary cut.

## Examples

- 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.

## Origin

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.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.