Word: deficits
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Dates: during 1980-1989
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...year ago, opponents of Reagan's presidency said that Reagan's legacy would be the burgeoning federal budget deficit, regression on civil rights, the right-wing tilt of federal courts and our deteriorating environment--in short, the destruction of America's future...
Darman's observation -- oddly reminiscent of Jimmy Carter's much maligned 1979 "malaise" speech on the nation's shrinking horizons -- was acute. But even as he was speaking, Darman and others in Government were obscuring the size of the federal deficit through slick bookkeeping and legislative tricks and promising bold new programs that they knew the federal budget could not sustain...
Although the White House argues that lowering the capital-gains rate would spur economic growth, many economists predict that it would add billions to the deficit over the long term. That was the least of considerations, however, in the White House and Congress. Says Speaker of the House Tom Foley: "I see little or no evidence that the Administration is pursuing serious deficit reduction...
...huge tax cuts. Instead, the Government decided to have it both ways: tax reduction as well as big boosts in defense spending and increasing middle- class entitlements (notably Social Security and farm supports), offset to a small degree by cuts in programs for the poor. The resulting deficit spending has spurred economic growth, but not sufficiently to cover...
...Once friendly trade unions complain that the Socialist leader has forsaken his party's traditional ideology by freezing social benefits and allowing 16% unemployment. Businessmen, who still applaud Gonzalez's successful campaign to attract foreign investment and reduce inflation, now fret about high interest rates and a growing trade deficit...