Word: budgeteering
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Dates: during 1970-1979
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...work force) hides the fact that some 60,000 jobs are currently being supported artificially, many of them in companies that receive government subsidies to maintain operations. Some analysts estimate that the government has been spending more than $12 billion a year-one-sixth of the national budget-to prop up weak industries...
...conversation these days is inflation. It is a strong tide that may momentarily ebb with an occasional optimistic statistic, only to rise again when new reports are issued. Echoing almost all the experts, as well as the public opinion polls. Federal Reserve Chairman G. William Miller told the Senate Budget Committee last week that inflation is the nation's No. 1 economic problem. He also warned that it is growing worse...
What to do? President Carter at budget time talked up a "deceleration" program of urging union and corporate leaders to hold wage-and-price boosts below the average for the past two years. This idea seems dead, killed by the coal strike and the cost of settling the walkout. The Administration is considering a series of other measures. Among them: holding pay raises of 1.4 million federal employees and 2 million military personnel to only 5%, rather than the 6% planned in Carter's fiscal 1979 budget; having Carter urge state and local governments to cut sales and property...
...faced with the threat that the U.S. would start restricting British flights to the rich American market, the U.K. gave in. It will now allow U.S. airlines, and presumably its own. to fly passengers between London and 14 American cities-including Atlanta, Chicago. Dallas and Seattle-at budget and stand-by fares proportionately as low as those already in effect on the New York-London route. Sample fare: $171, Chicago to London, one way. President Carter, announcing the agreement himself, called it "a major step forward . . . to provide the traveling public with a wide choice of low fares...
...said there was a need to balance New York City's budget in order to restore the city's credit rating but pointed out that it was very difficult to do since 75 per cent of the budget couldn't be touched...