Word: budgeted
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Dates: during 1980-1989
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...reason is fear that gargantuan budget and trade deficits may yet cause prosperity to fizzle. But there is also a feeling that something is wrong with the boom, that general prosperity is not bringing as much of the good life as the rosy numbers indicate. Though the wealthy are doing noticeably better, - most middle-class Americans feel squeezed. They are struggling harder -- and often depending on two incomes when one sufficed for their parents -- to pay for housing, tuition and other expenses that have gone up much faster than inflation...
...this year. The blow fell most heavily on the middle and lower classes, since the Social Security tax exempts the portion of wage and salary incomes above $45,000 a year and all income from interest, dividends and rent. The result: according to a Congressional Budget Office study, only the top 10% of the population received a significant net tax cut between 1977 and 1988; most of the other 90% paid a higher share of their incomes to Washington. At the extremes, the richest 1% got a net tax savings of 25%; the poorest tenth of workers saw 20% more...
...along it appeared that both parties were committed to a certain minimum level of federal spending and involvement. But Reagan wanted to change all that. He insisted that government was the problem, not the solution. And most significantly, he promised to cut back on spending and to balance the budget...
...campaign uses the theme of competence to highlight the new type of budget-conscious Democrat who supposedly has matured during the last eight years. Dukakis' handlers point to their candidate as the best and brightest example of this new breed...
...know, Reagan did not succeed in balancing the budget, but he did try his best to hold social spending to a minimum. In fact, Reagan went so far with his budget cutting that his attempts have backfired on him and his conservative colleagues. Even though conservatives now have a louder voice in the Republican Party, the party's overt reaction has been to move closer to the center this year than it ever would have dreamed...