Word: cuttingly
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Dates: during 1980-1989
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...biggest elements in Reagan's landslide re-election was the widespread belief that he had brought the U.S. a kind of permanent prosperity. Reaganomics -- which meant cutting taxes and incurring deficits beyond anything John Maynard Keynes ever dreamed -- struck some experts as voodoo economics (as the future Vice President George Bush christened it in 1980), but the boom rolled on. A doubled national debt of more than $2 trillion? Trade deficits of more than $15 billion a month? What did that matter, when inflation had been cut to about 4.5%, unemployment to 5.9%, and the Dow Jones soared well over...
...months earlier. For the second straight year, the legislators tossed all 13 appropriations bills into a massive single "continuing resolution" without which the Government would clank to a halt. This year's 2,300-page manuscript kept company with a "reconciliation bill" that detailed the tax hikes and spending cuts decreed by a White House-Congress summit last November to cut the deficit by some $76 billion over two years. Despite its elephantine size, the final product may have but a mousy impact on a stock market struggling to recover from Black Monday...
...SHOP BOYS: ACTUALLY (EMI-Manhattan). Supercool, supershrewd syntho-pop, London-style, with ironic lyrics so sharp and cold they cut like a scalpel made...
Workers at West Germany's Porsche will get an unusually long Christmas break this year. The plants that produce the prestige sports car will not reopen until Jan. 22, and even then production will be cut back by two-thirds. The slowdown is the result of Porsche's overreliance on the American market, which absorbed about 60% of the company's production in 1986. But 1987 sales slowed to a crawl because of the stock-market crash and the decline of the dollar against the West German mark...
...says Major Dennis Pinkham, a public-affairs officer at European Command. "Now that word is out that things are tough, that's kind of a bitter pill to swallow." With many economists predicting even harder times ahead for the shrunken dollar, the pill is most easily washed down with cut-rate beer in the barracks...