Word: budgeted
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Dates: during 1980-1989
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...rates. The Administration has little real chance to hit the Gramm-Rudman target without a tax increase, which Bush has ruled out, or politically unpopular spending cuts, which the President seems loath to initiate. Bush's strategy of leaving the hard choices to Congress has led so far to budget gridlock. Concedes a senior Administration official: "If Congress accepts our budget, economic growth and inflation and interest rates will take care of themselves. But if the bickering drags on, the Fed is going to give us all a hard time...
Across the Atlantic, European financial leaders were startled by the signs of U.S. inflation and the budget stalemate, which they fear could lead to an eventual global slowdown. In a joint statement, France and West Germany pledged to coordinate efforts to keep their inflation rates in check. Said William Martin, chief economist for Phillips & Drew, a leading London brokerage: "Bush hasn't made any headway, and there is enormous skepticism about his progress...
...chairman vowed to continue his efforts to reduce inflation. When Colorado Democrat Tim Wirth noted that the Fed seemed to be caught in the midst of a dangerous "high-wire act," Greenspan solemnly replied, "It is." Unless the Administration and Congress can find a credible way to cut the budget deficit, the Fed's daredevil performance will remain the only act in town...
Housed in a cramped Manhattan loft and operating with more conviction than cash (the budget is $10,000 a week -- minuscule compared with the money available to most network shows), South Africa Now presents a lively look at a tumultuous region. Twelve full- and part-time staffers and a host of volunteers put together programs of spot news, background reports and cultural features. The result is a show that is spunky and creative, though uneven in quality. Interviews sometimes drag on, and occasionally the picture and sound quality are poor...
...Budget-conscious oenophiles have long admired Chile's moderately priced, eminently drinkable wines. Despite their relatively unsophisticated technology, Chilean vintners have consistently produced supple reds that are notable for fruit and balance, as well as soft but less distinctive whites. The Wine Spectator, the leading American journal of wines and spirits, last year gave an impressive 88 (on a scale of 100) and a best-buy rating to Vina Los Vascos' 1984 Cabernet Sauvignon, which sells in the U.S. for a mere $5. Other bargain-priced Chilean wines, including Concha y Toro and St. Morillon, have also scored well...