Word: crunched
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Dates: during 1980-1989
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...many junior faculty members say they feel the crunch more critically. The Crimson survey of junior faculty found that they spend on average only 30 percent of their working school-year time on research and writing, compared to 50 percent on teaching and 20 percent on administrative duties. "I need to publish more or I'm not going to get promoted," says one social scientist...
Although McLean has run in the black in recent years, administrators fear that rising health-care costs, increasingly restrictive government regulations, and the need for long overdue capital improvements may cause a severe fiscal crunch within the next decade...
...Kerin, vice president for economics and research of the National Association of Realtors: "Our greatest fear is another notch up in mortgage rates. If they go up another three-quarters of a percentage point, we could repeat the experience of 1981 and 1982 and end up with a housing crunch...
...Caleb finds only disillusionment. Instead of encountering awe-inspiring captains of industry who have mastered the Protestant ethic of self-denial, he rubs shoulders with a bunch of cold, grubbing workaholics whose youthful grabs at promotions only mature into grabs for profit shares. Caleb's officemates crunch endless numbers, eye each other suspiciously and find their only communal identity worshipping the institution of the firm, and the sacred text of the annual report...
...deficit would not necessarily raise interest rates. "The interest rates coming down at the same time that the deficit was going up indicates there isn't that tie," he argued. David Smith, vice president of the National Association of Home Builders, grimly informed Reagan that a crunch was inevitable. Said he: "Deficits keep interest rates high. Deficits are inflationary. Mr. President, time is running out." Reagan hardly reassured his audience when he noted that ending tax deductions for home mortgage payments might be one way to simplify the tax code, a highly impolitic suggestion that left the builders sputtering...