Word: abroader
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Dates: during 1990-1999
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Like so many corporate-welfare programs, this one isn't available to all companies. It goes only to those that export. The truth is, most large corporations that use the FSC break are already robust exporters and don't need much encouragement to ship abroad. They would export with or without the tax break. In this decade alone, this single corporate-welfare program has cost U.S. taxpayers more than $10 billion, with about $8 billion of that flowing to the largest corporations...
...justification for much of this welfare is that the U.S. government is creating jobs. Over the past six years, Congress appropriated $5 billion to run the Export-Import Bank of the United States, which subsidizes companies that sell goods abroad. James A. Harmon, president and chairman, puts it this way: "American workers...have higher-quality, better-paying jobs, thanks to Eximbank's financing." But the numbers at the bank's five biggest beneficiaries--AT&T, Bechtel, Boeing, General Electric and McDonnell Douglas (now a part of Boeing)--tell another story. At these companies, which have accounted for about...
While Americans lately have seen how currency crises abroad can hammer their investments, the advent of the euro serves as a reminder that the global economy also offers bright opportunities...
...security requirements of the Wye accord -- even though the U.S. has certified that the Palestinians are in full compliance. That's after postponing Israeli West Bank withdrawals on Monday, on the grounds that his cabinet hadn't yet approved them. "Netanyahu is under strong pressure at home and abroad to carry out the deal," says TIME Jerusalem bureau chief Lisa Beyer. "But he has no enthusiasm for surrendering any territory to the Palestinians. He's looking for reasons to postpone it as long as possible...
...Tunis, which the Israelis bombed in 1985. More critically, in handing over this material, Pollard betrayed the U.S. intelligence community's "sources and methods"--a blueprint of the capabilities and limitations of the world's most powerful intelligence network and important clues to the identity of U.S. agents abroad. Pollard argues that he gave Israel only information it was entitled to under a 1983 pact between Washington and Jerusalem...