Word: cuttingly
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Dates: during 1980-1989
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Some economists point out that costlier fuel would slow down the economy and boost inflation somewhat. According to a study by the WEFA Group, a Pennsylvania-based forecasting firm, a 10 cents-per-gal. increase would accelerate inflation by about one-third of 1% and cut GNP by $10 billion, or one-fifth of 1%. The firm estimated that the slowdown in growth would lead to 80,000 layoffs in the first year of the tax increase...
State legislators maintain that federal fuel taxes should be used only to pay for roads and bridges, as they mostly are now, and not to cut the deficit. Besides, with taxes already ranging from Georgia's 7.5 cents per gal. to Wisconsin's 20.9 cents, state leaders are worried that a higher U.S. levy would restrict their ability to increase their own rates. Georgia Governor Joe Frank Harris has proposed a 6 cents raise in his state's 7.5 cents tax, and last week Governor Michael Dukakis asked for a 6 cents increase in Massachusetts' 11 cents levy to help...
...showdown will probably come next summer when Congress and the Administration decide how to meet the $100 billion Gramm-Rudman deficit ceiling. After an extended bout of recrimination and finger pointing, both sides will have to agree to raise taxes or cut some $30 billion to $40 billion from cherished defense and social programs. "It's fairly likely that a modest increase in the gasoline tax will be included" in whatever package emerges, says California's Beilenson. "You've got to have something that's wrapped up with a solution for a bigger problem to provide political cover." If that...
Walsh's delight in taking quarterbacks apart and putting them back together again also affected Montana's spirit. Recognizing the opponent's quandary in preparing for both -- Montana is a drop-back passer, Young a rollout runner -- Walsh coyly invented a quarterback controversy. He cut it out only when Joe started rolling steel balls in a clenched fist while quoting Y.A. Tittle on the three ages of athletic life. "Y.A. told me that when you're young, they love you. When you're in the middle, they hate you. But when you're old, they love you again...
Many politicians and economists want to boost the levy to cut the budget deficit, but powerful opponents would rather fight than pay. -- Barred from using polygraphs, employers seek an integrity test...