Word: cutbacks
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...draft suspension seemed only slightly more convincing. Nixon said that because of the troop cutback no new quotas would be required of local draft boards in November and December, during which 50,000 men had been scheduled to be called. The 29,000 men already set for October induction will be spaced out instead over the final three months of this year. At the same time, Nixon announced that if Congress does not act promptly on proposals for draft reform that he submitted last May, he will institute most of them by executive decree (see box, opposite page...
...easy to justify. Now it was tricky, and he had to calculate the risk on the battlefields, the tolerance of dissent at home, and somehow strike a balance. At week's end the summer White House in San Clemente said that President Nixon would defer his decision on the cutback until he returns to Washington next month...
...reassure each side that the other was keeping its word. Beyond a mere freeze, there is at least a theoretical chance that the two adversaries could decide to cut back their arms stockpiles and actually initiate partial disarmament. TIME'S Pentagon correspondent, John Mulliken, suggests several hypothetical cutback scenarios...
...present Administration. Nixon, the onetime hawk, is determined to disengage. He has begun to lessen the U.S. involvement here and has put pressure on the Saigon government to seek peace. It can be argued that he might have done more-some dramatic move after the inauguration, a cutback in American-initiated ground actions. On balance, however, Nixon has done about as much as could be reasonably expected, considering the political, diplomatic and military perils of the situation. At any rate, he has completely changed the official U.S. attitude toward...
Airline stocks fell especially far last week after Pan American skipped a dividend as a result of a $19 million loss in the year's first five months. Traders were further depressed by a cutback in capital spending at Chrysler and news that retail sales dropped in June for the second straight month. These indicators might bring some cheer to the Federal Reserve Board, which has been desperately looking for evidence that its restrictive money policy has produced some slowdown. But New York's First National City Bank warned in its latest economic letter that, "to hold fast...