Word: baddings
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Dates: during 1970-1979
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...city needed loans because of a practice, begun by Mayor Robert F. Wagner Jr. in May 1965 of borrowing short-term notes, payable within one year, to fill budget deficits. As if that was not bad enough, Wagner's collateral for the loans was Bond Anticipation Notes (statements of what the mayor expected to collect in taxes) based on the mayor's own estimate of the next year's revenues, rather than on last year's revenues. The effect of this practice, continued under subsequent administrations, allowed mayors to anticipate much more revenue than they knew the city would receive...
...confronted the issues--growing debt and budget, shrinking tax base, et al.--that will determine whether the city lives or dies. On Koch's efforts, Auletta quotes the Wizard of Oz's excuse to Dorothy: "I'm really a very good man, but I'm a very bad wizard...
...reason is that Jerry has staked all on his new economics, and they won't play in Newark, Detroit or Chicago, even if they do in Laurel Canyon. A Democrat already in the White House preaching austerity is bad enough. "Austerity" is not a good rallying cry for the scattered liberal coalition that selects nominees. It is doubtful Carter, unpopular as he may be, will be unseated by a challenger with an even bleaker economic forecast and as stern a remedy in mind...
...Prosper During the Coming Bad Years, Ruff...
...plain, psychiatry, especially analysis, is now suffering a bad case of mid-life blues. Whatever else the Freudian movement accomplished, it raised hopes dramatically, set the stage for the narcissistic excesses of today's Me Decade, and propagated the notion that mind science was on the brink of blowing away all mental ills. "Psychiatry was overtouted," says Psychiatrist and Author Robert Coles. "Then there was the disenchantment, not only of patients, but also, of course, professionals " Adds Robert Michels, head of Cornell Medical Center's Payne Whitney Hospital and Clinic: "The public's enthusiasm for psychiatry 20 years...