Word: crunched
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Dates: during 1980-1989
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...anti-inflation stand. Former Federal Reserve Chairman Arthur Burns, who is now serving as Ambassador to West Germany, recently visited Vice President George Bush to make a plea to keep Volcker on the job. Burns based his case on the need for respected leadership in the ongoing international financial crunch. Said another Volcker fan: "These are dicey times. It's not the moment to bring in a neophyte...
...Pentagon has underestimated the costs of weapons now in the pipeline-and Spinney presents overwhelming evidence that they have-then the readiness crunch will be even worse. When the big bills come due, many of the overruns will likely be paid out of operations and maintenance funds. Under Secretary DeLauer has suggested that the military could cope with this by, for example, using the M-1 tank less extensively for maneuvers than the M60. "If the tanks are sitting around in a garrison, you're not going to spend that much," he says. But Major John Meyers, an Army...
Even if the short-term cash-crunch problem is solved, Deukmejian critics insist that the Governor's overall plan for escaping the crisis also contains a strong element of make-believe. The state faces a deficit of $1.5 billion in the fiscal year that ends June 30, partly because state tax collections have been held down by the recession, partly because spending has been kept high by the need to bail out local governments whose ability to levy property taxes was sharply curtailed by the passage of Proposition 13 in 1978. While Democrats have said that they would...
Funderburk, who maintains that he has no plans to cut back the liberal arts, argues that the budget crunch forced economies in all areas and that the library bore its fair share. He has since secured $300,000 in additional funding for the library. "I shifted the emphasis to salaries and keeping as many people as I could," he says of his general philosophy. Indeed, under Funderburk, no one on the teaching staff has been laid off because of a lack of money. Funderburk claims that his efforts to strengthen the agriculture and engineering programs are simply a response...
While the private gifts generated by these local wish lists may ease budget aches, they do not solve the financial crunch. It is difficult to find donations to fill potholes or fix bridges. Admits Athens City Manager Marvin Bolinger: "We aren't going to have a street or a new sewer plant donated. The basic needs still need to be met. But this is just helping with the little extras that you'd like to have...