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...Democratic Congressman from Oklahoma who chairs the House Budget Committee. In the battle over figures that now commands the front pages and more time than the Join Chancellors probably would like to give it on the nightly news, Jones has been particularly prescient and responsible. He saw the budget crunch coming back in 1972 when he was first elected to Congress. "The Government even then was running away from the people," he says...

Author: /time Magazine | Title: The Presidency: Master of an Arcane Crisis | 10/5/1981 | See Source »

...into a Rabbit sort of rhythm." By then, Updike realized that still another sequel might occur to him: "I left some dangling threads in that book, possibly to be picked up later. But the real shape of Rabbit Is Rich didn't occur to me until the gas crunch of June...

Author: /time Magazine | Title: Books: A Crisis of Confidence RABBIT IS RICH by John Updike | 10/5/1981 | See Source »

...housing dead? That same question was asked 15 years ago during a credit crunch when mortgage rates reached a then phenomenal 6.5% after hovering for years at around 5%. Even in today's market, experts are not about to dismiss the U.S. housing industry. High interest rates have made the market stagnant, but they have also created pent-up demand among the baby-boom generation, who are now in their 30s. New housing is currently being built at less than half the 2 million-a-year rate needed just to keep up with those potential buyers. Robert Sheehan, director...

Author: /time Magazine | Title: Housing's Roof Collapses | 8/17/1981 | See Source »

...everyone swoons over Haagen-Dazs' Rum Raisin or rushes out to get Baskin-Robbins' flavor of the month (last month's offering: Condorman Crunch). Some gourmets prefer to make their own, some prefer what they find in the supermarket. TIME asked several notable ice-cream addicts to reflect on their favorite flavors. The answers...

Author: /time Magazine | Title: Living: An Eternal Verity | 8/10/1981 | See Source »

...feast begins in late April or May, when the caterpillars first emerge from their eggs. As they finish off one tree, they swing easily to another on silken threads they secrete. Their vagabond life accounts for the name gypsy. Millions can infest a small wooded patch. As they crunch, dropping excrement and half-eaten leaves, they sound like steady rain. Some homeowners complain that the noise actually keeps them awake. The caterpillars crawl up walls, spread over driveways, drop into plates and glasses at backyard barbecues. Last month Massachusetts officials got a call from a badly flustered woman. So many...

Author: /time Magazine | Title: Environment: Munch Gypsy, Crunch Gypsy | 7/13/1981 | See Source »

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