Word: deficits
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Dates: during 1970-1979
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...TIME economists generally beLieve the dollar will continue to hold steady next year, or even rise a bit. Big reason: the U.S. trade deficit, estimated at a record $28 billion this year, will drop by anywhere from $6 billion to $12 billion, as the recession cuts into imports. Stability in the dollar, in turn, will help to reduce inflation by holding down increases in prices of imports and of U.S.-made goods that compete against them...
These relatively small exports will not balance the U.S.'s $30 billion trade deficit. But they add up, and they help. Most important, the sales show that Yankee traders can indeed crack the foreign market-if they show a little ingenuity...
...from Hanover took a 4-0 lead as the game began, but the Crimson made up the deficit quickly. Co-captains Bob Hooft and Glenn Fine each made a steal to set up short jumpers that put the Crimson on top 6-4 with 16 minutes left in the opening stanza...
...decisive factors in reducing inflation, are moving ahead relatively smoothly. In next year's budget, the White House is shooting for expenditures of about $530 billion vs. $492 billion this year, an increase of 7.7%, which is below the current inflation rate. To achieve that and hold the deficit to less than $30 billion will require substantial cutting in the growth of the budget; the President seems determined to do this. There are signs that he may even fudge on his promise to NATO to increase U.S. defense spending by 3% in real terms next year...
Tommy Murray popped his first goal of the year from out in front to make it 7-4, and then surprisingly clean play from both squads (no third-period penalties) helped the icemen cut the deficit to two with six and a half minutes remaining...