Word: deficits
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...jerked about erratically, from preparing a package of revenue-raising tax "reforms" to abandoning al most all of it; from insisting that a $60.6 billion deficit could not be avoided in fiscal 1979, which started Oct. 1, to slashing that figure to $39 billion. A major problem is that Carter has never chosen one official to coordinate economic policy. Treasury Secretaries like Henry Fowler (1965-68) and George Shultz (1972-74) have often exercised such a role in the past, but Blumenthal has never achieved that stature or authority. Blumenthal deserves some criticism; in addition to his early waffling...
...test of the Administration's consistency will be what comes meetings being held now to prepare the budget for fiscal 1980. Carter has pledged to reduce the $39 billion deficit further, to no more than $30 billion. That will take some fancy cutting. Even if no new programs are started at all, the automatic growth in existing activities would result in a deficit of $46 billion to $48 billion. And the Administration has promised NATO allies that defense spending will rise 3% a year in real terms. So the cutting will have to come out of the budgets of civilian...
Last week the city council met in emergency session to find a way out of the city's most pressing problem: a shortage of money. According to some estimates, Cleveland is running a $16.5 million deficit and may have to default on $15 million in short-term notes that come due next month. One way out, says Finance Director Joseph Tegreene, 25, is to float a $50 million bond issue in December. But the city's credit rating is as low as New York City's was during its 1975 financial crisis...
...British public, obviously concerned about which major party can best cope with union demands, appears to favor Callaghan's position. In the past month Labor has climbed in the political polls from a seven-point deficit to a five-point advantage over the Tories. Callaghan is also 17 points ahead of Thatcher in personal popularity, a gain of six points in a single month. In a by-election last month in the marginal Scottish border district of Berwick and East Lothian, Labor managed to retain a seat that the Conservatives had strong hopes of winning...
...dollar's tribulations are focusing further attention on the trade problem with Japan. A main cause of the dollar's weakness is the U.S. trade deficit, which may run to more than $30 billion this year; the deficit with Japan will account for almost half of that. Economist Otto Eckstein of Data Resources Inc. in Lexington, Mass., last week declared that what is really needed to restore the dollar's health is "quick and dramatic relief from Japanese imports." In trade, says Eckstein, the Japanese "have done nothing for us." The Japanese, for their part, argue vehemently...