Word: borrowing
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Dates: during 1990-1999
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...retailers can take consolation in the fact that at least a few borrow-and-spenders seem to be putting off the day of reckoning. Meredith Richman, 28, a developer of computer programs in New York City, is one of them. Richman "maxed out" the $6,000 credit line on her American Express Optima card this year by charging a $3,000 income tax payment along with her rent and a $1,700 computer. "It doesn't matter, though," says Richman, who has rolled over unpaid balances to new cards three times this year. "I can always get other cards...
...every stage of my career, whatever money I had plus whatever I could borrow involved a violin," Ptashne says. "It's like houses, you trade up and trade...
...Harvard, "I didn't even bring a coat and tie," he says. "The guy I stayed with let me borrow...
...Secretary Richard Rubin, who is scrambling for ways to avoid a default on the federal debt, announced a series of moves to enable the government to make $102 billion in loan payments when they come due Wednesday and Thursday. The Treasury will auction securities to raise the money and borrow most of the rest from two government retirement funds. Borrowing allows President Clinton in effect to temporarily raise the debt ceiling while vetoing a GOP bill loaded with politically unpalatable amendments. But the strategy has a price: "They have to pay back the money they borrowed plus the interest lost...
...walking around the house like Indians in blankets." That might have been acceptable, the Mitchells say, if everyone were in the same boat. Instead--like three-fourths of Americans--their hourly pay has remained frozen even as executive salaries, corporate profits and the stock market have boomed. To borrow a phrase from the 1992 presidential campaign, the Mitchells have worked hard and played by the rules. But somehow the game got rigged. And they're looking for someone to bring the old rules back...