Word: deficits
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Dates: during 1970-1979
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...Administration insists that the U.S.'s present 13% inflation rate can be tamed by gently slowing the economy. Its program is to: 1) cling to the tattered wage-price guidelines*; 2) hold the fiscal 1980 budget deficit to $29 billion, down from $32 billion in 1979; and 3) encourage the Federal Reserve Board to continue to keep a firm rein on the money supply. But most non-Government economists believe that inflation will be curbed only by the recession that they predict will begin this summer...
...downturn would slow U.S. inflation and narrow the American trade deficit. It would reduce U.S. oil consumption and thus reduce upward price pressure on crude oil and other commodities...
...students' budget is the same as the deficit run last summer by George E. Hamlin Jr., producing director of the Loeb, Stewart said. Hamlin is not running the summer troupe because he directed another show earlier this spring, Stewart added. Hamlin, out of town, was unavailable for comment...
Also the growing rift between oil haves and have-nots widened further at the conference. Recent oil price increases will swell the collective current-accounts deficit of the non-OPEC LDCs this year by $5 billion, to a total $57 billion, and additional raises will grossly enlarge the gap. The Costa Rican delegation mustered some support from other oil-deficient Latin American countries for its proposal that OPEC consult with the importing LDCS before it raises prices again. But African and Asian delegations squelched the resolution partly out of fear that the OPEC nations might reduce their...
...Crimson fought its way back from a 35-14 deficit in The Game to within one touchdown. But the Yale offense killed the last six minutes of the season, as senior quarterback Larry Brown and his cohorts watched hopes die one last time...