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...realities of Reagan's budget are beginning to appear, and the American people are being faced with the realization the Swedes had last year: Sometimes the solution is worse than the problem. Like Falldin, Reagan is trapped between the firm, if unrealistic, demands of his conservative backers and the abyss of the national budget. He cannot compromise too far; he can only hope that by some miracle, supply-side economics will begin to work. Otherwise, he will learn a simple lesson: Voters are ready to give new things a try, but lose their nerve swiftly. When an experiment fails...

Author: By Michael Hasselmo, | Title: Lessons From Afar | 3/25/1983 | See Source »

...risks. The company can no longer compete across the board with GM and Ford by building car models in every size and price category. It remains burdened by $2 billion in long-term debt. If it should falter ever so slightly, it could again be plunged into a financial abyss. Says GM Chairman Roger Smith: "The jury is still out on Chrysler. It all depends on the product they introduce and whether they can sell...

Author: /time Magazine | Title: Iacocca's Tightrope Act | 3/21/1983 | See Source »

...whole Middle East is an abyss of injustice...

Author: /time Magazine | Title: Letters: Oct. 25, 1982 | 10/25/1982 | See Source »

That seems to be Reagan's principal position too. This shared willingness to talk may be, at least for now, as significant as the substantive abyss that separates the two sides. That point was stressed by one of the Administration's most ardent hardliners, Eugene Rostow, director of the Arms Control and Disarmament Agency. Said he: "Arms control negotiations are not bargains among peasants haggling over the price of potatoes. The two leading nuclear powers should do whatever is possible to help lift the cloud of war from the horizon.'' -By Walter Isaacson. Reported by Erik...

Author: /time Magazine | Title: Starting the Great Debate | 5/24/1982 | See Source »

...world cannot stare too long at an abyss; the abyss stares back, or simply grows boring. We revert to our customary sins. We do our violent business as usual. Fish gotta swim. War is flourishing-between Iran and Iraq, between Israel and the P.L.O., in Cambodia and Afghanistan. Since the bomb fell on Hiroshima, mankind has fought roughly 125 wars (of one sort or another), including the longest one in U.S. history. But all of these collisions fell short of the nuclear. They thereby seemed weirdly permissible: as sins, venial, not mortal. They were not, after all, the utmost...

Author: /time Magazine | Title: Essay: The Metaphysics of War | 5/17/1982 | See Source »

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