Word: deficit
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Dates: during 1980-1989
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...ticklish task is made even tougher by the failure of the Bush Administration and Congress to rein in a runaway budget deficit that helps keep interest rates high. White House and congressional leaders merely ducked the issue last month in a sleight-of-hand agreement that cut the 1990 deficit to about $100 billion to comply with the Gramm-Rudman law. But a recession could make a mockery of that rosy projection by swelling the red ink to as much as $175 billion. "Using monetary policy to slow the economy is a poor second-best solution," says David Rolley...
...election," says John Makin, director of fiscal-policy studies at the American Enterprise Institute in Washington. And while the experts may agree on little else, most say the economy will remain in precarious health until Congress and the White House devise a realistic plan to cut the budget deficit. That will take some doing. When a perplexed Pharaoh awoke from his dream-filled sleep, Joseph advised the ruler to store food from coming harvests against the time of want. At the moment, no Joseph is available to persuade Washington to adopt frugal habits, even when the fat years...
...inaugural address, Caperton stunned the legislature by calling it into emergency session, declaring West Virginia to be "in crisis." During his first three months he has managed to reduce the number of state offices and commissions from 150 to seven. Confronted by a $230 million deficit and a scandalous $280 million loss in state pension funds, he persuaded lawmakers to raise taxes on groceries and gasoline. He introduced an innovative health- cost-containment plan for state employees, arranged for payment of West Virginia's debts and put through his own radical restructuring of the state's education system, including larger...
...didn't know if I was winning or losing. I didn't know I was making a comeback either. All I could think about was 'Oh My God, my thesis is due in 11 days.'"--Harvard women's fencing Captain Penelope Papailias about her rally from a 4-0 deficit to defeat Yale's top-ranked fencer in March...
With the administration already predicting a $250 million deficit this fiscal year, Locke said, "I think the more interesting question becomes, 'What happens next?' And I don't know that answer to that...