Word: cut
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Dates: during 1980-1989
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...truth, even with the most brilliant policy, the passage to a sounder prosperity is likely to be tricky, dangerous and painful. Lowering the trade deficit will take years, and will probably require a cut in American consumption -- meaning, in other words, at least a temporary reduction in the standard of living. Many economists think the dollar will have to fall further too, reluctant as both U.S. and foreign moneymen are to see that happen. The reluctance is understandable. Unless a decline is carefully managed, it will raise two dangers: a renewal of inflation and a panic flight of foreign capital...
...abroad, on how to begin to correct the imbalances in the American economy. The President and the Democratic-controlled Congress must agree, right away, on a package of measures that hold some real promise of reducing the budget deficit steadily and substantially. Certainly these must include painful spending cuts. But ^ they must also include tax increases, much as Reagan hates the thought. Not because they are any panacea; indeed they carry a serious risk. Higher taxes might reduce consumer spending just when a recession is beginning, and deepen the slump. But no significant budget cut is possible without at least...
...Street broker in her mid-20s. "Now I'll be doing my shopping at Labels for Less." Caldwell, who majored in art history at Barnard, earns a salary in the low six figures and she spends accordingly. "I have every credit card known to man, but this morning I cut some up," she admits. Caldwell plans to keep the mink coat she bought last month, but forget about those $100 dinners for two. "I'll be staying home more to cook the two things I know, an omelet and Lean Cuisine...
...even better idea would be to cut off the source of the missiles, and last week the U.S. took steps to do that by announcing it was suspending transfers of high-technology equipment to China until it stops selling Silkworms to Iran. Both China and Iran deny any such transactions, but intelligence reports leave little doubt that Peking is the source. The suspension of technology sales means that China will not be able to buy legally from the U.S. some of the computers, semiconductor manufacturing equipment and other electronic gear essential to its modernization...
...Cut agricultural supports. Too much of the price-support budget goes to the wealthiest farmers. During 1985, when $23.7 billion was distributed, only one- third of U.S. farms collected price supports; almost 70% of those payments went to farmers with annual sales of $100,000 or more. Former Delaware Governor Pete du Pont, a Republican presidential contender, proposes to wean farmers from income subsidies over five years, thus producing a $5 billion savings the first year and $75 billion in total. Agrees Harvard Economist Robert Reich: "The benefit of such aid is not as great as the social costs...