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Itaipu has taken seven years to build, and even so will not be producing at full capacity until 1989. Nonetheless, the completion of the project is clearly a long-term boon for energy-hungry Brazil, which will channel much of the dam's power to the industrial state of Sao Paulo, 660 miles away. Saddled with more than $80 billion in foreign debt, Brazil currently imports 750,000 bbl. a day of crude oil, at a cost of more than $27 million a day. Eventually, the mammoth dam could be the equivalent of a 600,000-bbl.-a-year...

Author: /time Magazine | Title: Megawatt Monolith | 11/15/1982 | See Source »

...aspect of the democratic process. In the wake of Watergate, Congress amended the federal election laws in 1974 to limit the role of wealthy contributors and end secretive payoffs by corporations and unions. The new law formalized the role of PACs, which were supposed to provide a well-regulated channel for individuals to get together and support candidates. But as with many well-intended reforms, there were unintended consequences. Instead of solving the problem of campaign financing, PACs became the problem. They proliferated beyond any expectation, pouring far more money into campaigns than ever before. Today the power of PACs...

Author: /time Magazine | Title: Running with the PACs | 10/25/1982 | See Source »

...money has gone to challengers so far this election. In the past this bias toward incumbents meant that Democrats fared slightly better with PACs than Republicans, but now the increasing strength of corporate PACs (which give 65% of their money to Republicans) relative to labor PACs (which channel 90% of their funds to Democrats) could mean that G.O.P. candidates receive slightly more money...

Author: /time Magazine | Title: Running with the PACs | 10/25/1982 | See Source »

...paranoia about the Soviet Union overrides other Administration goals as well, often with deleterious effects. By impeding the exchange of discoveries, the government may channel hundreds of lab hours and millions of dollars into duplicative research...

Author: By Jacob M. Schlesinger, | Title: Behind Closed Doors | 10/19/1982 | See Source »

...promising, but repeatedly failed when the erratic Khomeini refused to order that control of the hostages be transferred from their militant captors to his government. After the rescue attempt, little progress was made until Algerian diplomats agreed to serve as official intermediaries between the U.S. and Iran. Through this channel, complex legal questions involving the disposition of the frozen Iranian assets were tackled and Iran dropped its demands that the Shah and all his financial holdings be returned to his homeland. As the election of Nov. 4,1980, approached, Carter believed that "if the hostages were released, my re-election...

Author: /time Magazine | Title: Jimmy Carter: 444 Days Of Agony | 10/18/1982 | See Source »

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