Word: backed
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Dates: during 1970-1979
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...ratio of retired people to those holding jobs narrows in coming decades, active workers will have to increase their pension contributions. A congressional Joint Committee on Tax study has estimated that individual contributions will nearly double, from this year's $11.3 billion to $21.9 billion in 1984. Cutting back the growth of pension fund benefits in an era of double-digit inflation will be difficult but inevitable. Without some moderate increase in the burden on current workers combined with some decrease in benefits for current and future retirees, the fate of many pension programs is grimly clear. Says Richard...
...plan is intended to prove that Chrysler can be brought back to financial health and is thus eminently deserving of federal aid. The document outlines a five-year strategy. Although President Lee lacocca had said earlier that Chrysler's third-quarter deficit would be "at least double" the $207 million that it reported for the second quarter, bringing the cumulative red ink for the year to about $800 million, the report projected that the total 1979 loss would come to a truly scary $1.073 billion on revenues of $12.4 billion. The company expects to lose another $482 million next...
...maintain a schedule of 200 flights a day with scant working capital and a modest fleet of 20 propjet planes, which include its own 19-seat De Havilland Twin Otters and 48-passenger Fairchild 227s and two leased 50-seat Convair 580s. Seldom are there planes available for back-up use. So even though Air New England is classified in the same category as national carriers like Eastern and United, it continues to operate in much the same manner as the "commuter" airlines. These are what the industry bluntly describes as its "problem" segment: the more than 200 small, often...
...Grits was a gift to the First Daughter from Verona Meeder, her fifth-grade teacher. The dog was returned, presidential aides insisted, because its mother had died, leaving Mrs. Meeder canineless. As usual, however, there were leaks in high places. One was that Amy's pet was sent back because, after 2½ years, it still was not White House broken. · It may be the only gym that contributes profits to California's Campaign for Economic Democracy, solar energy, tenants' rights and better housing. It could only be located in Beverly Hills, and the proprietress could...
...Alan Shepard scratched his back on the edge of space and America entered the manned space race. At last. Since 1957 there had been all those Sputniks-Mechtas and Vostoks-beeping overhead, clockwork reminders that the heavens were in the hands of the godless Bolshevik. The script had gone awry. A nation only 40 years from feudalism was secretly lobbing what looked like customized samovars at the free world while priapic Vanguards and Jupiters wilted on their pads or exploded prematurely for all the world to see. Democracy could be embarrassing...