Word: billions
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Dates: during 1970-1979
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...other creditors the world over. Renouncing previous pledges of payment, Abol Hassan Banisadr declared: "We will not pay back these debts. How can we repay loans that former plunderers received from their foreign accomplices and put back into the accomplices' banks?" He put the debts at "$15 billion, possibly more...
...moment that Banisadr was posturing, U.S. Treasury Secretary G. William Miller was jetting to Saudi Arabia, to try to persuade Persian Gulf leaders not to cut their oil production in the months ahead. He also wanted to assure them that, although the Carter Administration had seized some $8 billion to $9 billion in official Iranian assets, their money was safe in U.S. banks...
...currency to pay for imports of everything from Australian wheat to Japanese machinery, which are all priced in dollars in international trading. Iran's oil exports, which have been declining in recent weeks, amount to about $70 million daily, only a fraction of the more than $150 billion that normally changes hands every day in international dollar transactions...
George Bush advocates a $20 billion tax cut in 1981. Teddy Kennedy thinks a pump-priming cut may be necessary in 1980, but is not yet sure. John Connally wants a crowd-pleasing $50 billion to $100 billion tax reduction spread over three to five years, while Howard Baker figures a four-year time frame is about right. Both Jerry Brown and Ronald Reagan would like lower taxes and a balanced budget (who wouldn't?), but want the cuts linked to a constitutional limit on the growth of federal spending...
...knows how much his proposed National Health Insurance plan would cost; estimates range from $28 billion to $45 billion a year. For many years he urged Robin Hood-style tax "reform" and a closing of capital gains benefits, but he has not lately repeated that theme...