Word: borrowings
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Public Service skirted bankruptcy in 1984 and had to halt Seabrook construction for three months until the state Supreme Court let it borrow $425 million, the largest utility financing deal in U.S. history...
...should improve the public school system by opening it up to competition," said DuPont. "Give families a choice of where to send their kids." He also said his father supports a system of federal aid to college students under which "anyone could borrow the money to go wherever they want...
Another passenger said he did not borrow from the shelf because "I like to own books." He said he would want to keep the books, if he took them to read during his commute...
...back on, consumers might have to restrict their spending severely during a recession and thus aggravate the downturn. Other harmful side effects have already shown up. Profligate consumer spending on imported goods has ballooned the U.S. trade deficit, while the dwindling national pool of savings has forced America to borrow from abroad to meet its financing needs. Says Investment Banker Peter Peterson, a former Commerce Secretary: "Correcting the current imbalance assumes that America can embark on an enormous shift from consumption to savings. I hope we don't have to have a national crisis to reach a national consensus...
...downturn in personal saving comes at a time when the Federal Government is doing even worse, running budget deficits that have totaled nearly $1.3 trillion so far during the 1980s. Result: America's pool of savings is inadequate for the country's investment needs, forcing the U.S. to borrow more and more money from abroad. America's net foreign debt, nonexistent only three years ago, is expected to jump from $264 billion in December 1986 to more than $400 billion by the end of this month. Says Sheila Tschinkel, director of research for the Federal Reserve Bank of Atlanta: "What...