Word: cutbacks
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Dates: during 1980-1989
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According to county officials, an alarming rise in welfare costs, combined with a cutback in both federal and state aid, forced the move. "Our general-assistance case load had increased 55% during the past two years," says Dennis Hart, director of the county's social welfare department. "We had to find a way to do some screening of the people we were getting." The throwback has already spurred a lawsuit and a blast of criticism from Bannon Street residents, lawyers and sociologists. Says Harry Specht, dean of the School of Social Welfare at the University of California at Berkeley...
More than 30% of U.S. industrial capacity now stands idle. As a result, companies are expected to slash real capital spending by 8.5% next year. That cutback almost guarantees that any business recovery will be painfully gradual...
...altogether. In October the Administration, using the controversial ruling as a lever, won concessions from the foreign governments of the producers involved. In the agreement, the overseas governments promised that they would limit their sales in the U.S. to less than 6% of the total market, a cutback of 1¼ percentage points from then current levels...
...calling the unemployment cutback a tax, then, the President is merely linguistically shrouding what it really is--a new budget cut to help bail the Administration out of its budget deficit problem. While reassessing costly benefit programs is in itself entirely reasonable, the White House's backdoor style an describing and disclosing the concept warrant disdain...
Generally considered a free-market economist, Feldstein has criticized supply-side extremists who promised that the 1981 tax cuts would trigger sudden growth in the economy. In practical terms, he is also keenly concerned about the widening size of the federal budget deficit, and favors a cutback in Social Security cost of living increases as a way to combat it. He also suggests that federal policies have diverted too much of the nation's capital into housing, a stance that brought him opposition from the national homebuilders' lobby...