Word: deficits
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Dates: during 1970-1979
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...next year. Actually, the Congressmen had no choice. Persistently high unemployment rates have meant a loss of billions in revenue for the system. Benefits for the 30 million people now drawing checks from Social Security are depleting its reserves?$46.1 billion in fiscal 1977?at an accelerating rate. The deficit that year was $5.6 billion. Unless something was done, the system was expected to go broke by the early 1980s. To keep it from drowning in red ink, the House approved, by a vote of 275 to 146, legislation that would...
...packed house at Brown's home field, the Bruins themselves never lost their composure. Brown's Tom Gertken answered Bowyer's blast with an unassisted goal of his own just minutes later, and the stunned but confident Bruins headed to the locker room with a 2-1 halftime deficit...
...York City Police Department's anti-terrorist unit, contends that many urban terrorists are compensating for inadequate personalities. "If they cry and stamp their feet, no one pays attention. But by taking hostages, in a matter of minutes the whole world is watching. This helps overcome their ego deficit." What motivates many terrorists, observes University of Munich Political Scientist Kurt Sontheimer, is "a deep hatred of present society. They talk vaguely of socialism, but they offer no political theory. Nobody really knows what kind of society they envision...
Currently, the threat of low-priced foreign competition also worries businessmen-and with good reason. The U.S. trade deficit is ballooning toward a horrendous $30 billion this year, almost five times the 1976 figure. The present drop in the value of the dollar-6% against the Swiss franc, for example, in the past eight weeks -hardly inspires confidence either. Unease about many of these matters predates Carter's Inauguration, but there is no question that doubts about the President's economic policy have increased the reluctance to invest. Says Willard Butcher, president of Chase Manhattan Bank: "Frankly, many...
This is only the second time since 1972-73 that Harvard managed to avoid a deficit. But the black ink has appeared in two consecutive years, an optimistic sign to administrators haunted by inflation during the earlier part of this decade...