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What caused Reagan to reverse field, with the economy essentially stagnant and nearly 10 million Americans unemployed, was a crippling fear that deficits over the next three years could reach $500 billion if no adjustments were made in his program. In order to keep at bay this looming behemoth and bring interest rates down, Reagan accepted the need to raise new revenues. This pitted him against some of his usually most ardent supporters, like Congressman Jack Kemp of New York, who argue the supply-side theory that only by reducing taxes can the economy expand. The dispute, said Kemp...

Author: /time Magazine | Title: Scoring on a Reverse | 8/30/1982 | See Source »

...California-based engineering and construction firm from which Secretary of State-designate George Shultz resigned as president two weeks ago is one of the true anomalies of American business, a globe-girdling behemoth that operates throughout the U.S. and 20 foreign countries, but a company so private and unobtrusive in its ways that most people have never even heard of it. Yet the privately owned and operated Bechtel Group Inc. of San Francisco (1981 billings: $11.4 billion) has probably done more to transform the landscape of America and the world than any other company of this century. Among their many...

Author: /time Magazine | Title: The Master Builders from Bechtel | 7/12/1982 | See Source »

...LATEST work from Harvard University reiterates many of the author's favorite themes in an abridged volume far more sprightly than the 800 page behemoth available in late August. Here we find that same world of scholarly contemplation, term bills and drop add schedules portrayed in firm bureaucratic prose and candid snap shots of Widener Library. Absent are the upper-level conference course descriptions, the Department of Biophysics faculty listing and the information on January examinations. The result is a version of the classic Register better suited to the summer months, if not quite appropriate for the beach...

Author: By Paul M. Barrett, | Title: Summer in the Ukraine | 6/20/1982 | See Source »

...HAVE to take Fine Arts 175 a to understand the basic qualities of Boston City Hall. Anyone who passes that behemoth across the street from Fanueil Hall can tell. It's big, overbearing, and perfectly expressive of the impersonality and arrogance of modern government. Someone not up on their architectural history might well think if was built for Kevin White...

Author: By James W. Silver, | Title: The White Will to Power | 5/1/1982 | See Source »

...more than two decades, WABC, the New York City broadcasting behemoth, was the most influential pop-music radio station in the country. But last week, bowing to increased competition from FM radio, WABC announced that it was converting to an all-news, all-talk format...

Author: /time Magazine | Title: Music: Hot Air | 3/8/1982 | See Source »

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