Word: budget
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Dates: during 1980-1989
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Under the original agreement reached last November, Japan's Mitsubishi Heavy Industries would design the fighter (top speed: 1,300 m.p.h.) in cooperation with St. Louis-based General Dynamics. The deal guaranteed U.S. contractors 40% of the $1.2 billion development budget and allowed access to the secrets of advanced Japanese radar gear and composite materials. But Bush wants further assurances that American firms will receive 40% of the $5 billion to $10 billion in production contracts for as many as 170 fighters, which are to be deployed in the late 1990s...
...licked his lips. He sipped water. His ashen face looked aged. The strain was evident as Prime Minister Noboru Takeshita faced his challengers in the Diet. The embattled Japanese leader made a series of extraordinary admissions to a special session of the Diet budget committee. Last October Takeshita flatly denied any connection to the burgeoning scandal that has linked dozens of Japanese politicians and bureaucrats to a money-and-favor game played by the Recruit Co., a $3.25 billion information-and-real-estate conglomerate. But last week Takeshita conceded that over the years he and others close to him received...
Reforming the system could take a very long time. More immediately, Takeshita is eager just to get the Recruit scandal behind him. For one thing, the Diet's opposition forces are holding hostage the nation's budget, which should have been in place April 1. They refuse to debate it until the L.D.P. agrees to allow Nakasone to testify under oath about his role in the Recruit affair. For another, Takeshita must set a date for elections to the Diet's upper house by Aug. 13, and in the poisonous atmosphere created by Recruit, the L.D.P.'s chances of winning...
...describe what political lexicographer William Safire calls the "supposedly ad-lib remarks made by the President on minor occasions." But that was before George Bush and a phalanx of congressional leaders strolled into the Rose Garden last Friday morning to announce that they had hammered out the 1990 budget concordat. Now, in updated fashion, Rose Garden rubbish can also be defined as "the unveiling of a cynical, bipartisan arrangement to avoid difficult decisions on the deficit through the use of artful arithmetic, Panglossian projections and other green-eyeshade gimmickry...
...fair, there was little of the shamelessly self-congratulatory rhetoric that normally consecrates such empty agreements. The President called the budget pact a "first, manageable step" taken "in a constructive, bipartisan spirit." The Democrats reflected mild embarrassment over the ease with which they had capitulated to Bush's no-new-taxes pledge, something close to the Administration's defense-spending target and budget chief Richard Darman's strategy of forcing Congress to make the fiscally necessary but unpopular cuts in domestic programs. "This is not a heroic agreement," said House Speaker Jim Wright, putting it mildly. And Senate Majority Leader...