Word: deepening
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Dates: during 1970-1979
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Some other reasons for thinking that the business slowdown will not deepen into recession: averaging out quarterly swings, the 42-month-long expansion has been moderate so far, and has not produced the excesses?a too rapid pile-up of business inventories, for example?that can be corrected only by recession. Consumer buying has held up fairly well, business investment in new plant and equipment is picking up a bit, and both should be spurred by the tax reduction of $16 billion to $18 billion a year that Congress is about to enact. In 1979, though, that cut will just...
...There are a lot of victims, like the girl in Racing in the Street, one of Springsteen's best songs, who "stares off alone into the night/ With the eyes of one who hates for just being born." Intimations of guilt and the dim promise of salvation shade and deepen the darkness, but for every casualty it claims, there are others who strain against it. "Badlands, you gotta live it every day," Springsteen sings in the opening number...
That prospect is what worries Ways and Means Chairman Al Ullman, who contends that a bigger tax cut would deepen the budget deficit, kick up inflation and irrecoverably lead to recession. He opposes even the $25 billion cut and advocates starting at a lower figure, say $15 billion. But Ullman is not likely to prevail over O'Neill. Earnest, hard-working Ullman lacks the clout wielded by his predecessor, Wilbur Mills, in part because of recent reforms of House rules, which weakened all committee chairmen while strengthening the Speaker...
...nine months of this year. As a result, Europeans are understandably resentful of Washington's feeling that they are somehow or other sponging off U.S. expansion and are particularly wary of calls to pump up their own economies. One consequence of doing so would be not only to deepen their trading deficit with the U.S. but to erode their competitive edge in important "third" markets such as the Middle East...
Argus Research Corp., the Wall Street investment analysts, predicts that such cutbacks will deepen-indeed, that the industry will reduce its production capacity by as much as 20% over the next five years, as it closes more and more marginal mills. In Argus' view, that would be good for steel: costs would be reduced and profits would eventually rise...