Word: budgeted
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Dates: during 1980-1989
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Cheney has offered Congress a blueprint for cutting $10 billion from the $305 billion budget request submitted by President Reagan just before he left office last January. In his plan, Cheney hopes to spare major strategic weapons like the B-2 Stealth bomber by trimming smaller but costly programs, notably Grumman's F-14D jet fighter (saving: $2.4 billion) and the V-22 Osprey ($7.8 billion), an innovative tiltrotor aircraft made by Boeing and Bell Textron. The Defense Secretary worked the Capitol Hill corridors last week to make his case, while President Bush courted key Senators and Representatives over...
...Pentagon budget is tight, the years that follow promise even more bad news for hard-pressed defense firms. The General Accounting Office estimates that as much as $150 billion will have to be hacked out of defense plans over the next five years. One reason: giant, multi-year spending commitments in the early 1980s are still rolling through the budgets like a giant bow wave, pushing aside other priorities. One of the biggest is the Northrop B-2, which is now expected to cost $530 million per plane, making it the most expensive weapons system in history. Eliminating the plane...
While cuts in the defense budget are undoubtedly necessary to shrink the country's deficits, the U.S. cannot afford to let its defense-industry base shrivel away. One harmful effect would be reduced domestic competition at every level, from small subcontractors to major suppliers, which would put upward pressure on procurement costs...
Bright as its comedy is, Nice Work takes place within a sort of psychological smog spread by England's economy. All the characters, whether they know it or not, are indirect victims of Thatcherism -- Robyn because of the cuts in public spending that have ravaged her university's budget; Vic because of Rummidge's desperate rust-belt competition, which causes his firm to be taken over and him to get the sack; even Robyn's lover Charles because of the post-Big Bang financial speculations that lure him from academe and leave him adrift. This theme weighs a bit heavily...
...almost immediate benefit in restoring some confidence in Mexico's financial stability. Domestic interest rates, which had risen to 56% this year, have fallen 20 percentage points in the past three weeks because financiers anticipated the debt deal. That shift, which will reduce Mexico's cost of financing its budget deficits, gives the country another much needed boost toward new growth...