Word: deficits
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Dates: during 1980-1989
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Harvard battled back from a 14-point deficit to pull within a single point three times in the final minutes of the game...
...Phillips, who had 13 first-half points,sparked a late Harvard rally, which brought theteam back to a 36-30 halftime deficit...
TIME's correspondents quickly concluded that any attempt to close the deficit strictly through spending cuts would be unworkable and unwise. Most non-defense programs have already been slashed relentlessly during the Reagan years, and the President has reluctantly consented to slow the growth of his military budget...
...President who campaigned on a promise that he would wipe out the deficit by the end of his first term is now finishing his second term with that goal nowhere in sight. Why has he failed? The question prompted TIME' s Washington bureau to undertake an ambitious project: drafting its own long- term proposal for a balanced budget that would be feasible as well as fair...
...Congress does nothing further to curb Government outlays or boost taxes, the federal deficit will remain huge: a projected $128 billion in 1992. To close that gap, TIME proposes spending cuts over the next four years that would save $49 billion in 1992, along with tax and other revenue increases that would raise $79 billion...