Word: borrower
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Dates: during 1980-1989
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Agriculture. Farmers traditionally borrow heavily in order, among other things, to finance planting and machinery purchases, paying off the loans when they sell their crops. For some, the costs are becoming ruinous. In northwest Wisconsin, Walter Betzel grossed $100,000 last year from his 350 acres of corn and oats and his 30 milk cows. Some $19,000 of the amount went right off the top for interest payments. After his interest and other operating expenses, Betzel had $5,000 left to spend on his wife and three children. Says he: "We're sick...
...that Congress in an election year will make further cutbacks in social programs like food stamps. Both assumptions, TIME's economists agreed, are wishful thinking. The board expected the deficit to rise from $125 billion in 1983 to $150 billion in 1985. If the Government has to borrow those gargantuan sums, interest rates will almost surely remain at towering levels and prevent a robust economic recovery...
...gained at the moment by declaring default. The current payments merely continue the process, which was begun last year, of rescheduling Poland's debt obligations. The U.S. action does not relieve Warsaw of the duty to pay the money eventually. The Poles are currently not being allowed to borrow more, nor do they have enough assets that could be seized to cover their debt. Poland is at least attempting to pay off some of its interest obligations to private Western banks, and has met close to $350 million in payments, out of $500 million owed in 1981. As Secretary...
Grasszdonio used a Business School student's bursar's card to borrow books from Baker library and a Law School student's identification to apply to Harvard and six other law schools...
...Random House publishing in 1966 and Hertz car rental in 1967. RCA's biggest acquisition of all was in 1979, when it paid $1.3 billion, or 40% over market value, for C.I.T. Financial Corp., a consumer loan and insurance firm. To raise the money, the company had to borrow heavily on the commercial paper market, where big corporations sell multimillion-dollar short-term lOUs to banks and other institutional investors...