Word: board
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Dates: during 1970-1979
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Every member of TIME'S Board of Economists opposes a constitutional amendment that would require balancing the budget in each year. Similarly, all shudder at the thought of a constitutional convention, at which extremists might bring up all sorts of far-out schemes to change the Constitution. Said Beryl Sprinkel: "I don't want to lose the freedom we've got, so I am very concerned about having a constitutional convention." However, added David Grove...
...Board members pointed out that an amendment to balance the budget would straitjacket the economy, particularly during a recession, when deficit spending often is prudent to spur a recovery. Otto Eckstein noted that because tax revenues fall during a recession, Congress would have to raise taxes in order to balance the budget, and that would bury the economy even deeper...
Jimmy Carter's re-election prospects have become a much discussed topic in the nation lately. When the subject came up at TIME'S Board of Economists meeting, the response could hardly have encouraged Carter partisans. All seven members present gave the President a less than 50-50 chance of reelection...
...appreciating faster in today's churning market because buyers can get mortgage financing at cheaper rates than co-op buyers, who must take out higher interest personal loans because they own nonmortgageable shares instead of property. Co-ops are more restrictive than condos; the building's board of directors must approve a potential buyer before he can acquire shares, whereas a condo can be sold to whomever the owner chooses...
What was not anticipated was that Schramm would hit his head and left shoulder blade on the board during his final tune-up session Wednesday. Undaunted, the Westfield, N.J., junior took to the board the next day wearing a bathing cap to protect his bandage and eight stitches. Despite the injuries and a stomach virus, the end of the 11-dive contest found only three-time defending champion Paul Steck standing between Schramm and the gold medal...