Word: credited
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Dates: during 1970-1979
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...economic consultants, the council and the mayor held meetings to try to find a compromise that would stave off default. As failure seemed imminent, Forbes offered a soothing prediction: "Come Saturday morning, the sun is going to shine, or it is going to snow." But as the city's credit rating plummets and outright bankruptcy looms, drastic cutbacks in all city services seem inevitable. Or, as Kucinich so aptly put it when a midnight deadline passed: "There will be six months of chaos for this one night of shame...
Accordingly, the program that the Premier presented for treating Portugal's many ills was vague, perhaps deliberately so. Some disgruntled deputies derided it as a "letter of intent," and a "mere memorandum." Without mentioning specifics, the Mota Pinto program called for revising agricultural credit, promoting competition, creating jobs, and keeping up a permanent "dialogue with the workers." In his speech before the Assembly, Mota Pinto spoke forcefully in defense of his program. Said he: "We must put discipline in work, better the conditions for private investment and make the public sector efficient...
TIGHT MONEY. Excessively fast growth of the nation's money supply has been an important cause of inflation. The Federal Reserve has created so much money partly to cover budget deficits, partly to meet the credit demands of a growing and inflationary economy. Throughout 1978 the Fed kept letting interest rates rise to discourage borrowing; banks raised the prime rate 14 times, by a total of almost 4 points, to 11.5%. Loan demand stayed high, however, and money supply kept bounding up; in September it rose at an annual rate of 15.8%. But the cumulative effect of the interest...
Some time during this Christmas season, a father selecting a suit for his son or a sugar daddy eying a bauble for his woman friend will pull out a plastic credit card to pay for it, and the U.S. consumer will be $1 trillion in debt. Figuring that in an inflationary period the wise person borrows while the fool saves, the consumer has been piling on debt at a quickening rate, buying new houses, new toys and just about everything else. Private debt now averages more than $4,600 for each man, woman and child...
...well organized and active, but it lost its most prestigious member in last month's election, Massachusetts' Edward Brooke, the Senate's only black. No black will hold a committee chairmanship or leadership position for either party in the 96th Congress. The Black Caucus claims credit for the passage this year of the Humphrey-Hawkins Bill, but the diluted act simply outlined goals for full employment rather than authorizing the means to achieve it. The Caucus was effective in creating the "minority set-aside program," which earmarks 10% of federal construction funds for black and Hispanic contractors...