Word: crunchingly
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Dates: during 1970-1979
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...sharp were the financial reverberations set off by Schlesinger's rather overwrought vision of a coming energy crunch that the Administration felt obliged to send forth Treasury Secretary W. Michael Blumenthal in the dollar's defense. Before a Senate committee, he cited Schlesinger's remarks about oil and said that this was "clearly the type of thing that causes people to run for gold." (Aides later maintained that Blumenthal had not been commenting on what Schlesinger had said, but on the Iranian situation itself.) Blumenthal forcefully reiterated that the Administration remains committed to maintaining stable market conditions...
Officials at DOE remain publicly confident that a supply crunch can be avoided this year, but privately they are not so sure. Says one Schlesinger aide: "We're walking a fine line. We want the public to be aware that we are facing a potentially serious situation so that people will conserve oil, but we don't want to scare them...
...convert to oil heat-there is also an effort under way to pump Soviet oil down from the main pipeline network to the north. That, however, is an enormous engineering task, and even though the gas-rich U.S.S.R. has a surplus of the fuel available to ease the crunch in the Transcaucasus, the troubles in Iran could be long over before the pipeline rerouting is finished...
There are those who see the private-college crunch as a blessing in disguise. Says the Rev. Paul Reinert, chancellor of St. Louis University: "Private education should grow a little leaner." Perhaps it should. But then too, the public system has overbuilt and overborrowed as well. If the private schools suffer most as the fiscal crisis deepens, that will be a consequence no one intended. The nation's large-and often excellent-public system was designed, after all, to supplement the private colleges, not to supplant them...
...million. After receiving millions in profits over the years from the sale of spaghetti and macaroni, the school sold the company for $115 million in 1976. That may be the only use of pasta to finance higher education, but other novel strategies for coping with the fiscal crunch have yeasted up all over. Among them...