Word: costs
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Dates: during 1970-1979
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...Secretary Joseph Califano last week revealed that the Administration intends to introduce only a modest national health plan this year. Carter had campaigned on a pledge to fight for a comprehensive medical insurance program, but his proposal would simply improve existing coverage, protect against catastrophic medical bills and cost $10 billion to $15 billion a year after it is fully implemented. It would not start until 1983, and then only if the Administration's hospital cost-containment bill was passed. "A serious disappointment," said Senator Ted Kennedy, the champion of comprehensive insurance on the Hill...
Both the economy and Carter's fragile political position demand quick action. Indeed, at week's end the Administration reported that the Consumer Price Index for February had risen an alarming 1.2%, the largest monthly jump in the cost of living since 1974. If that rate were to continue, inflation would leap 15.4% in twelve months. Carter had predicted an increase...
...conservative King also fired Christina Crowe, deputy director of social services for the state welfare department, for criticizing his freeze on hiring social workers. He canceled two scheduled 6% cost-of-living increases for welfare recipients, most of whom are children, and then asked private charities to help make up the difference. When welfare mothers gathered on Beacon Hill to protest, King refused to meet with them. He ordered a limit on the number of indigent elderly persons who can be accepted by state-funded nursing homes, producing howls of protest. Last week King backed down, saying the limit...
...group of 48 Roundtable member firms, among them AT&T, General Motors, Exxon, Procter & Gamble, Dow Chemical and Eastman Kodak, were examined for the added costs caused in 1977 by just six federal regulatory agencies and programs. The total: $2.6 billion, which was equal to about 16% of the companies' net profits, 10% of their capital expenditures and 40% of their R. & D. budgets for the year. IBM Chairman Frank Gary, who supervised the study, reckoned that the $2.6 billion figure, extrapolated to cover the whole U.S. economy, would yield an overall cost of regulation that is "not inconsistent...
...will probably remain strong by any standards. But there is a growing consensus in and out of the industry that the old days of runaway expansion are over and a tough period of scrambling for new customers and healthy returns lies ahead. A basic problem has been the rising cost of food, especially meat; beef prices jumped 30% last year, and some experts say they could increase by 50% this year. The chains have thus been forced to charge more; McDonald's raised its prices last year by about 14%. But higher costs are causing people to order down...