Meanwhile, following the advice of supply side economists, Bush has cut spending in a bid to encourage private consumption.

Главным образом интересуют supply side economists и bid

А контекст такой
The US’s fiscal situation, meanwhile, has deteriorated almost as quickly as Russia’s has improved. George Bush junior has increased defence spending by around 80% since 2000, mainly because of the War on Terror and the costly campaign in Iraq, orchestrated in part by Mr Wolfowitz in his previous incarnation as neo-conservative deputy defense secretary.

Meanwhile, following the advice of supply side economists, Bush has cut spending in a bid to encourage private consumption.