Word: deficits
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Dates: during 1970-1979
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STATES. To a far greater degree than before, Washington will work with state governments on programs to help distressed cities. One reason: while the Federal Government will have a $60 billion deficit, some states and local governments have been running surpluses that total $15 billion. Washington wants some of that money to go for urban renewal. As an incentive, the Federal Government will put up $400 million during the next two years in unrestricted grants for states that provide funds of their own to help rundown municipalities...
...farm bill is only one, though the most egregious example of spending bills that threaten to swell the federal deficit next fiscal year beyond the already frightening $60 billion that Carter had budgeted. Connecticut Democrat Robert Giaimo, head of the House Budget Committee, figures that it could rise as high as $70 billion. Consequently, the memorandum presented to Carter urges him to pledge publicly that he will hold the deficit to $60 billion and at least implicitly threaten to veto big-spending bills. Says one high economic adviser: "If we go above $60 billion, the stock market will be affected...
...aluminum smelters. On top of that, the endless rounds of litigation by conservationists delay the construction of new power plants, thus directly affecting plans for new aluminum smelters. A possible result: a shortfall in U.S. production in the early 1980s, which would add to the nation's trade deficit because fabricators would be forced to import more and more aluminum. Says one exasperated industry leader: "Looking at the way they handle the power situation in this country, it sort of makes you think about places like the Amazon, where they don't' have quite the same bunch...
Gray Lady Down is that old favorite about the damaged submarine resting on the bottom, its occupants growing ever more fearful that they may be done in either by a deficit of air or a surplus of water (Will those hatches hold at this depth?). Topside, expensive efforts, often frustrated, are made to rescue them...
From the very beginning, you knew this was an Evert-Goolagong match, because nothing that happened could ever have been predicted. The 26-year-old Australian, who earned $20,000 for the win, began with her engines in full throttle, burying Evert in a 4-1 deficit before the crowd had time to settle in its seats...