Word: deficits
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Dates: during 1980-1989
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Sparked by perhaps its strongest team effort of the season, the Crimson overcame a two-set deficit to finally defeat the Tigers in five sets...
...wage boosts, increased regulation of agriculture and made government-subsidized loans to low-income city dwellers, peasants and small businessmen. Perez personified the socialist conviction that the common good can best be bought with public money. But by the time he left office, Venezuela was suffering from a massive deficit and high inflation, which were followed by a recession and crippling foreign debt when the oil boom turned to bust...
Abroad and at home, challenges are going unmet. Under the shadow of a massive federal deficit that neither political party is willing to confront, a kind of neurosis of accepted limits has taken hold from one end of Pennsylvania Avenue to the other. Whatever the situation -- the unprecedented opportunity to promote democracy in Eastern Europe, the spreading plague of drugs, the plight of the underclass, the urgent need for educational reform -- the typical response from Washington consists of encouraging words and token funds. Yet voters, especially the better-organized ones, continue to demand -- and often receive -- more benefits and services...
...Director Richard Darman. In a speech at the National Press Club, Darman blasted both the Government and the voters for mimicking spoiled children with demands of "now-nowism -- our collective shortsightedness, our obsession with the here and now, our reluctance adequately to address the future . . . Many think of ((the deficit)) as a cause of our problems. But it is also a symptom, a kind of silent now-now scream...
...exchange controls and preferential tax treatment, but Italians have been willing buyers of state paper, thus absorbing the burgeoning debt. In this situation, rises in interest rates have the perverse effect of stimulating consumption by putting more money into people's pockets. Moreover, another part of the government's deficit spending directly helps private business by shouldering part of employers' social-security contributions, thus boosting profits and encouraging investment...