Word: defaults
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Dates: during 1990-1999
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...moment, most of the Americans who flocked to Powell will retreat to their political default mode. Powell Republicans are reclaimed mostly by Robert Dole. Powell Democrats drift back to Bill Clinton. But having been beguiled by the dream of a third way, voters won't go happily, and quite a few will be ready to run off again with any newcomer who talks their language. Take your pick. Newt Gingrich, Jesse Jackson, Ross Perot or one of his surrogates. Some late bloomer in the New Hampshire primary field. It will be a while before the restless American electorate has sorted...
...remind Perot's followers of why they rejected both parties in the first place, there is the prospect this week of a partial shutdown of the Federal Government or a temporary default on U.S. debt payment. Both could happen if the President vetoes the temporary debt-limit extension that the Republican Congress has put before him, and that requires him to approve their budget proposals. This is macho, partisan face-off time. If you're a Perot voter, or even if you're not, there could hardly be a better example of Beltway fecklessness...
These results are especially encouraging in light of the fact that a strong Boston University squad lost several of their matches to the Korean team by technical default...
...budget plan and not on an extension of the nation's debt ceiling, which is scheduled to expire sometime this month. Republicans have said they won't agree to more than a brief extension of the debt--which must be approved by Congress and is necessary to avert default on billions of dollars in government bonds--unless President Clinton agrees to accept the main provisions of their budget package. So far, the President has rejected making a deal...
Treasury Secretary Richard Rubin, who is scrambling for ways to avoid a default on the federal debt, announced a series of moves to enable the government to make $102 billion in loan payments when they come due Wednesday and Thursday. The Treasury will auction securities to raise the money and borrow most of the rest from two government retirement funds. Borrowing allows President Clinton in effect to temporarily raise the debt ceiling while vetoing a GOP bill loaded with politically unpalatable amendments. But the strategy has a price: "They have to pay back the money they borrowed plus the interest...