Word: cutbacks
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Dates: during 1980-1989
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...government of President José López Portillo has asked for between $4 billion and $5 billion in three-year credits, but before granting it, the fund is expected to insist on a package of tough austerity measures that may include higher taxes and a sharp cutback in government spending...
Mexico has asked for a $4.1 billion loan from the International Monetary Fund, but the aid is likely to be granted only if the country adopts new austerity measures to improve its balance of payments. Such moves might include higher taxes and a sharp cutback in government spending. While helping Mexico's credit rating, these steps would also boost unemployment. López Portillo gave no specifics of a new austerity program in his speech. Making unpleasant economic choices will soon be the job of his hand-picked successor, Miguel de la Madrid Hurtado, who will take office...
Saud, in turn, warned members of the Senate Foreign Relations Committee that Arab nations "would hold the U.S. responsible" for a bloody Israeli assault on West Beirut, and hinted at retaliation. Committee Chairman Charles Percy of Illinois wondered whether this might take the form of a cutback in the oil production vital to Western economies and a massive withdrawal of Arab money from American banks. So the moment of opportunity for American policymakers in the Middle East is also a moment of peril...
Rowny laid out a proposal based on President Reagan's May 9 call for a mutual one-third cutback in long-range ballistic-missile warheads. At the envoys' second session, held in the penthouse of the Geneva office of the U.S. Arms Control and Disarmament Agency, Rowny made it clear that he did not expect an instant da from the Soviets. "The President wanted to know if I needed some leather pants to be patient," he quipped. "I told him no. Karpov, like his namesake [World Champion Anatoli Karpov], plays chess. We in the West like to play...
...head of your parade if I believed marching alone could bring about a more secure world ... The question is how to proceed." To previous U.S. proposals for elimination of intermediate-range nuclear weapons in Europe and reduction of strategic nuclear arms, Reagan added a suggestion for cutbacks in conventional forces. NATO and the Warsaw Pact countries, he said, should reduce their armed forces in Europe to 900,000 each: 700,000 ground troops, 200,000 air force personnel. U.S. officials have made essentially the same proposal before in negotiations that have been dragging on in Vienna for nine years. Agreement...