Word: deficits
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Dates: during 1970-1979
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...finals, Lowry crushed the eventual winner, Michelle Prettyman from MIT, 5-2, but dropped three of six bouts in finishing in a tie for fourth place. In one of her losses, against Dartmouth's Julie Sudikoff, she battled gamely back from a 4-1 deficit with one minute left to almost achieve...
With Amtrak's annual deficit expected to climb to $1 billion or more by 1985, the austerity-minded lawmakers are in no mood to shout down a new Administration plan that will sharply cut both the cost and the size of the passenger train network. Transportation Secretary Brock Adams would eliminate 12,000 lightly traveled miles of Amtrak's 27,500-mile network, mostly in the South and West. Five states (Arkansas, Iowa, Nebraska, Vermont and Alabama) would lose all passenger train services. But Adams claims that the summed Amtrak could still serve 91% of its present customers...
...also will prod workers to demand more pay, which businessmen will pass on in higher prices. And as more dollars flow abroad, the greenback's value will tend to slump against other currencies, and Americans will wind up paying more for imports. The impact on the U.S. trade deficit, which last year reached a record $28.5 billion, will also be severe. In January alone, the deficit hit an eleven-month high of $3.1 billion, largely because oilmen rushed to stock up and beat future price increases...
...while Treasury aides urged that the President say nothing for fear of spooking currency dealers abroad into dumping dollars. Yet it seemed more likely that a determined U.S. policy to conserve would strengthen the dollar by showing the world that the nation was taking steps to correct its trade deficit...
Board members pointed out that an amendment to balance the budget would straitjacket the economy, particularly during a recession, when deficit spending often is prudent to spur a recovery. Otto Eckstein noted that because tax revenues fall during a recession, Congress would have to raise taxes in order to balance the budget, and that would bury the economy even deeper...