Word: deficit
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Dates: during 1980-1989
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...going on within the leadership. Ryzhkov made clear that his approach represented a "third alternative" to making minor corrections in central planning or plunging headlong into a free-market economy. Over the next two years, he said, the state intended to use "rigid directive measures" to reduce the national deficit from about 10% to 2.5% of GNP and increase supplies of consumer goods. A real market with varied forms of property ownership would take shape after 1992, he added, when the state would begin to rely primarily on credits, investments, pricing, taxation and other levers for regulating the economy...
BOSTON--House and Senate negotiators met privately yesterday to work out differences on a $350 million savings package aimed at reducing Massachusetts' budget deficit, which the administration of Gov. Michael S. Dukakis has pegged at more than $800 million...
...good fortune. Gorbachev seems content to let the President move at his own pace. The Soviets and NATO allies support a stabilizing U.S. presence in Europe. And a gradually reduced Soviet threat may enable Bush to squeeze just enough money from the military next year to keep the federal deficit moving downward. Bush recognizes that he is the benefactor of a rare alignment of stars. "I'm a lucky person to be President of our country in these very exciting times," he said last week. But as the ground in Europe continues to shift, he will need more than luck...
...bank deposits to student loans and Third World aid. While no one expects all such programs to fail, bad debts and write-offs are steadily increasing. "Losses from these programs have already cost the taxpayers tens of billions of dollars and have had a significant impact on the federal deficit," warns Charles Bowsher, the U.S. Comptroller General. Adds Michigan Democrat John Dingell, who chairs a House subcommittee on oversight and investigations: "It is as if every man, woman and child in this country each co-signed a personal loan...
Cheney's announcement was greeted by much of the U.S. foreign policy establishment with cynicism. The Defense Secretary, it was said, had not really had a change of heart; the cuts had more to do with the requirements of the Gramm-Rudman-Hollings deficit-reduction law than with the opportunities posed by Gorbachev. True, but beside the point. What mattered to the Soviets was that the U.S. body politic as a whole now accepted the proposition that Kremlin policy had changed in ways that justified American reciprocation...