Word: deficits
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...alternative to passing the bill was letting Social Security go bust. Billions in revenue have been draining out of the system since 1975, primarily because of high unemployment and increases in benefits to keep up with inflation. In fiscal 1977 the deficit ran to $5.6 billion, v. system reserves of $46.1 billion. Without new revenues, the system was expected to go bankrupt in the early 1980s...
...more basic reason for the dollar's plunge is a deepening quarrel between the U.S. and its trading partners, West Germany and Japan, over what to do about the soaring U.S. trade deficit. By year's end the deficit is expected to total a stunning $27 bil lion, nearly five times last year's figure. Both Japan and West Germany maintain that the deficit is the result of wanton U.S. consumption of imported oil and that Washington must adopt an energy program that reduces U.S. de pendence on OPEC. The Carter Administration argues that it is doing...
...dispute in which everyone has a point. Japan and Europe are right in arguing that a cut in oil imports, which are currently running at $3.7 billion a month, would immediately reduce the U.S. trade deficit. But they fail to acknowledge that oil imports are increasing largely because the U.S., alone among major industrial nations, is pursuing a broad-based program of economic expansion from which everyone else is benefiting. Japan, for example, has kept its factories humming despite slow domestic economic growth, mostly by selling cars, TVs, steel and other products to the U.S. Consequently Japan is running...
Because of massive oil imports and deep inroads into the American market for steel, color TV, microwave ovens and other products made by aggressive foreign competitors, the U.S. trade deficit is ballooning toward $30 billion, about five times the 1976 figure. That has sent the dollar to new lows against such currencies as the Japanese yen, German mark and Swiss franc, and set off a protectionist clamor for restrictions on imports to save American jobs...
...stocks so depressed? Analysts asked for reasons can come up with an endless list of quickie "explanations" for any particular day's drop: a jump in wholesale prices, a rise in the trade deficit, a threat of higher interest rates that would pull money from stocks into bonds. Last week, when the Dow fell 8 points, the favored reason was worry over a continuing drop in the value of the dollar on foreign money markets. All these factors do indeed have some influence, as does the perception by investors that the Carter Administration does not have a grip...