Word: deficits
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Dates: during 1970-1979
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...social security system has been edging toward bankruptcy for years. The federal bureaucracy has grown so huge and decentralized that it acts as both a quasi-legislative and quasi-judicial fourth branch of the government, yet there has been no real reorganization since the New Deal. The Federal deficit is as intolerable as the unemployment rate, but no one in power has addressed the issue head...
From the outside, Tomasiewicz was blisteringly hot, going without a miss for the first 15 minutes of the game. Meanwhile, the Harvard attack remained lackadasical throughout the first half, falling to a 35-19 deficit at halftime...
That prospect is what worries Ways and Means Chairman Al Ullman, who contends that a bigger tax cut would deepen the budget deficit, kick up inflation and irrecoverably lead to recession. He opposes even the $25 billion cut and advocates starting at a lower figure, say $15 billion. But Ullman is not likely to prevail over O'Neill. Earnest, hard-working Ullman lacks the clout wielded by his predecessor, Wilbur Mills, in part because of recent reforms of House rules, which weakened all committee chairmen while strengthening the Speaker...
...generally more positive. On the whole, most legislators regard it as a tight, realistic blueprint that will probably come through Congress in fairly recognizable shape. Still, there are important differences over particulars. Conservatives are worried about the budget's inflationary impact and would have preferred a smaller deficit than the $61 billion now estimated. Liberals, on the other hand, feel betrayed by Carter's refusal to allocate greater resources to fighting joblessness and urban ills and for public health. They note that Carter, who ran on a platform of reducing defense outlays, submitted a military budget calling...
...dipped a bit again at week's end, apparently because Carter's State of the Union speech failed to convince foreign moneymen that the Administration has a handle on the economy's problems. In the long run, dollar stability will depend on U.S. progress in reducing its gargantuan trade deficit of almost $30 billion?and not much progress is expected this year. Congressional passage of an energy bill?almost any energy bill ?would help by demonstrating American determination to cut oil imports, the biggest contributor to the deficit. A dollar slide aggravates other troubles: it worsens inflation by increasing...