Word: deficits
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Dates: during 1970-1979
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...been rare, and no ships have sunk in the canal proper. On an average day, 34 vessels move uneventfully through the canal without mishap or even tension. The U.S. has also run the canal as a bargain for shippers: tolls have been raised only twice. The operation's 1976 deficit: $7.4 million, on tolls totaling $134.3 million...
...flames of inflation here, assisting dying economies there, and acting at times as if he were the head of a supranational central bank. Earlier this year the IMF provided a $3.9 billion emergency loan to Britain, which was strapped at the time with an enormous balance of payments deficit...
...imported oil be carried by U.S. ships, reached the President's desk. Treasury Secretary Michael Blumenthal reviewed the pros and cons: the bill, he said, would create as many as 18,000 jobs at sea and in shipyards and reduce the nation's trade deficit, but in the long run, by raising costs, would reduce both total employment and national production. Domestic Affairs Adviser Stuart Eizenstat noted that not only Blumenthal but CEA Chairman Charles Schultze and Under Secretary of State Richard Cooper "feel that no version of cargo preference is acceptable," but added that "rejection of cargo...
...weeks ago, after Briarcliff s efforts to lure enough students to the new site proved futile, the New York Board of Regents dissolved the 75-year-old school's charter. Bennett, which filed bankruptcy proceedings last spring, will almost surely close down this week too. Meanwhile, a standing deficit has forced a third private women's college in New York State, twelve-year-old Kirkland, to merge next year with coordinate Hamilton College, a 165-year-old, previously all-male college in Clinton...
...best way to perk up the sluggish world economy is for the relatively well-off nations to buy more from depressed countries by either revaluing their currencies (to make imports cheaper) or expanding their economies faster (to increase demand for foreign products). The main reason for the big U.S. deficit, Treasury officials contend, is that the American economy has been growing at a much more rapid rate than its trading partners in Europe, South America and Asia. As a result, while markets for U.S. products have remained soft, American demand for imported goods has intensified. Foreign oil alone will cost...