Word: defaulting
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Dates: during 1990-1999
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WHILE THE BUDGET EQUIVALENT OF MELROSE PLACE reached a climax this week, a new installment in the spin-off drama, Default Lane, began filming. For those who hate suspense, here's a preview of the final scene: there's no chance the U.S. government will default on its debt, now or ever...
...Dole voters I spoke with last week displayed any enthusiasm. Most seemed grudgingly resigned to their choice. As a result, many local Republicans predict that caucus attendance will fall to less than a quarter of the 1988 total of 974 voters. "It's a 'by default' kind of thing," concedes Elaine Homan, a local Dole supporter. "I can't even count on my own family's showing...
...addition to protecting Clark's health, the default enabled the competitors to leave New Jersey ahead of the snow. Assistant coach Mimi Ells was not so lucky. The weather kept her in Princeton longer than anticipated...
...threat of a default on the national debt, that was really more about spin than substance. The G.O.P. had long intended to use the need to lift the debt ceiling to gain leverage in budget negotiations; the Administration had an equal interest in casting the Republicans as reckless for holding the nation's credit hostage to "extreme" demands. Both sides, however, were quietly counting on Treasury Secretary Robert Rubin to stave off an actual default through internal bookkeeping changes--and last Wednesday he came through. He used an arcane process called "disinvestment," which enabled him to shift tens of billions...
...agencies, museums, parks and laboratories to a halt. "Essential" workers--including national-security, safety and communications personnel--were ordered to stay on the job during the crisis. Treasury Secretary Robert Rubin juggled the federal books and tapped two civil service retirement funds in order to avert a potentially chaotic default on government obligations...