Word: borrowers
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Dates: during 1980-1989
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...owner, he does. It's hard to answer. Actually, it's kind of Monopoly money. But we're putting in $20 million, which we had to borrow on a ^ recourse loan. So if I fail, I'm on the hook. But making $100 million was not my motive by any stretch of the imagination...
While that may be true, even the U.S. tax code is a strong ally of LBO artists. Since the interest on junk bonds and bank loans is tax deductible, companies like RJR Nabisco can borrow at Government expense. Some -- but not all -- of the Treasury's loss can be recouped from capital-gains taxes on the profits of shareholders who sell their stock...
...cuts campaign promise, as long as he does so. "The most statesmanlike thing to do in politics," says Johnston, "is to tell the truth during a campaign. After you've concluded that you can't win that way, the second most statesmanlike thing is to borrow from Earl Long and tell the people you lied." Johnston doesn't expect Bush to ape Long, but he does expect him "to set the stage and move by degrees. At some point, possibly under the cover of the National Economic Commission or an economic summit between the White House and Congress, Bush could...
While cutting the deficit to zero is something to shoot for, it's not critical. Growing families or businesses or nations have a legitimate need to borrow if they're investing in the future. It makes sense to borrow for education, research, equipment and infrastructure that will make us more productive. We would be insane to stint in these areas. Is NASA a place to cut back? Hardly. NASA and high-tech programs like it are engines of our economic future. If we lose our technological edge, we've lost our economic future...
When first asked about the matter two weeks ago, Mrs. Reagan stated flatly through Crispen that she had purchased every item she acquired during the past six years. After TIME's story appeared, Crispen admitted that the First Lady had continued to borrow clothes, but claimed they had all been returned. Then Crispen said that while some dresses had been borrowed, others had been received as gifts from "old friends" and hence did not have to be disclosed. Finally, Crispen declared that when the President's term expires, Mrs. Reagan will decide which dresses to keep and which to return...