Word: boom
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Dates: during 1990-1999
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...Michelle McQuaid of Ridgewell's Caterers. "Being rich in the '90s is not in style." Families are learning hard lessons in economics, and in discipline. One by one, items drop from the budget of a middle-class dream: cable TV, designer coffee, a winter vacation, credit cards. In the boom years of the decade, when no excess was too wretched, household debt grew about 50% faster than disposable income. "I really try to get us on a savings plan," says Sarah Frazier, who lives with her husband Richard in Idyllwild, Calif. "We want to start a family someday...
...slowdown has deeply cut into revenues from state corporate and income taxes while also leading to cautious consumer spending that reduces the take from sales taxes. Meanwhile, outlays have been rising sharply for bridge and highway maintenance, prison construction and new schoolrooms for the second wave of the baby boom. The stiffest increases have been in health-care costs. Medicaid spending by states rose 18.4% in fiscal 1990 alone. Thus many of them are struggling with the prospect of big budget cuts and higher taxes, or drawing on reserves. "It's going to be batten down the hatches," says...
...Excalibur hotels -- is leading Las Vegas toward its biggest year ever. In Nashville the country-music business is keeping the local economy afloat amid a tide of regional recession. Felix Rohatyn, the fiscal doctor, says the only hope for New York City, laid low by the collapse of the boom-boom Wall Street economy of the '80s, is to turn it into a tourist attraction keyed to entertainment. But the industry is also undergoing profound change in its essential financial and cultural dynamic: moving toward the European and Asian customer as a major source of revenue while moving away from...
...institutions fell from 544,000 to 134,000. But deinstitutionalization alone did not create the homeless problem. Many released patients survived for a time in single-room-occupancy hotels, where they at least had a fixed address and could receive monthly benefit checks. It was the 1980s real estate boom, during which developers eliminated half of all the nation's SROs, that emptied the mentally ill onto the streets. Meanwhile, the government cut nearly 500,000 mentally ill people off the welfare rolls...
...this situation because the leadership of the health- sciences research community has addressed the problems on a short-term, piecemeal basis, essentially looking at the problem only as long as the one- year budget cycle of Congress. That style of leadership has led to a virtual roller coaster of boom and bust. We are now suffering from a vacuum in national leadership for science in general and health science in particular...