Word: currently
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Dates: during 1970-1979
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...shadow over the New Long March, however, is doubt that the primitive Chinese economy can rouse itself to meet the price. One freewheeling guess is that the Four Modernizations could cost $800 billion by 1985 The Chinese consumer market may be a long time in developing. Despite all the current capitalist visions of the new market opening up on the mainland, it may be years before the Chinese can afford to pay for all they want. Among other things, Chinese oil reserves, on which Peking heavily counts to earn cash, are afflicted by a number of serious technical problems including...
...shrink it to $30 billion or less. To do so while also increasing defense spending he will have to cut some civilian programs-public service jobs, antipollution grants, subsidized low-income housing-and give up or delay some new initiatives. National health insurance? Not until 1983. Welfare reform? Under current plans, no money for it. Members of the Board of Economists fear that even if Congress accepts all this shrinkage, a recession nonetheless will push the deficit up to $50 billion by reducing tax collections and increasing unemployment benefits. That does not mean the effort to cut other spending...
...biggest battles will rage over defense and social welfare spending. Together, the Pentagon and Health, Education and Welfare take about 60% of the budget. OMB is recommending defense spending of $122 billion, an increase of just under 9% from current levels and therefore not enough to offset inflation, which has been running at 91/2%. A defense budget of that size would not honor Carter's NATO pledge of last spring to increase U.S. defense expenditures by 3% above inflation. Last week, however. Carter repeated that promise, suggesting that he could end up overruling the recommendation of his own budget advisers...
...qualification. Reserves are measured in three ways: proven, probable and potential. Unlike other countries, Mexico further complicates matters by lumping oil and gas together; about two-thirds are oil, one-third gas. The government figures its proven reserves?oil and gas that can be recovered with existing technology at current prices?at 20 billion bbl. This total is expected to be raised soon to about 30 billion bbl., which would make Mexico's known supplies of oil slightly larger than those of Venezuela or Nigeria, though far smaller than Saudi Arabia's 160 billion bbl. The official reckoning...
...astonishing variety of Muppet toys and other artifacts, including arm puppets, fills the stores; a theme amusement park of the Disneyland sort has been talked of; Muppets have been visible in TV commercials and in guest appearances on such varied offerings as the old Ed Sullivan Show and the current Saturday Night Live. This week an hour-long TV special, Emmet Otter's Jug Band Christmas, is on view in the U.S. And, of course, the Muppets Bert and Ernie, Oscar the Grouch, who lives in a garbage can, and the renowned Big Bird, who is 8 ft. tall...