Word: budgeteering
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Dates: during 1970-1979
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...other China" recovered from the shock of learning that Washington and Peking would normalize diplomatic relations this week, the island's mood was one of ever greater resolve and patriotism. Two days after Carter's announcement, Premier Y.S. Sun announced that the government was increasing the defense budget and stepping up a development program for major weapons. Since the U.S. was terminating its 1954 mutual defense treaty with Taiwan, said Sun, the republic had no choice but to "establish a more self-sustaining defense industry." It was a popular move. In front of the main Buddhist temple...
...news broke at a time when the President was trying to finish the difficult budget for fiscal 1980 (and suffering from a flare-up of hemorrhoids that forced him to cancel all appointments on Thursday). Administration economists immediately tried to calculate what the damage from the OPEC price hike would be for 1979. They estimated that the cost of petroleum products, ranging from heating oil to gasoline, would rise 3? to 5? a gallon. The inflation rate, now projected at 7.5% for next year, would rise by another .3%. The rate of economic growth, they estimated, would be trimmed...
Public employees. Pacts covering 400,000 members of the American Federation of State, County and Municipal Employees must be concluded by April or May in order to give politicians time to work the figures into budgets, even though most contracts do not expire until June 30. This moderate union might actually be helped by the 7% guideline since, in an atmosphere of fiscal conservatism and budget cuts, it is unlikely to have got much more. Now, it will have an argument against settling for less...
...says Paramount Head Barry Diller. "That kind of Saturday Night Live consciousness, that visual entertainment, will become a" staple," Another zany sleeper was Up in Smoke, one long giggle to the age of dope, dealing mainly with the encounters between two aging potheads and the law. Smoke's budget was $1 million, but it has already grossed 38 times that...
...save" Social Security. You have probably heard that the popular program will go bankrupt soon, but that's not exactly true. The real problem is that as the baby boomers retire and then live longer than previous cohorts, aid to the elderly will take up more of the budget, leaving little room for other priorities like health care or education. The solution we choose will have an impact on generations to come, and not just the retired and disabled...