Word: deficits
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Dates: during 1980-1989
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...month of reckoning for the Federal Government, as a new fiscal year begins and the budget is hammered out. In the next four weeks, Congress and the Bush Administration must raise the federal debt ceiling to $3.1 trillion, find a way to reduce next year's deficit -- on paper at least -- to $110 billion, and scrounge for funds to finance the drug war, educational reform and cleanups of the HUD mess and even of the storm-ravaged South Carolina coast...
...capital-gains cut in a monster tax-and-spending bill with so many provisions unacceptable to Bush that he will be forced to veto it. That risks triggering the automatic spending cuts mandated by Gramm-Rudman-Hollings if there is no agreement by Oct. 16 to hold the deficit to $110 billion in the fiscal year that began Oct. 1. But those cuts could always be rescinded later. And if the budget deficit keeps rising? Don't think about it. The public, the President and Congress all seem sold on now-nowism...
Since early this summer, the finance ministers of the seven leading industrial countries have seemed almost powerless to tame the surging U.S. dollar. They agreed the currency was too high and, in the long run, threatened to aggravate the U.S. trade deficit. But their desultory attempts to push down the greenback prompted suspicion that the G-7 group had lost its clout. Last week the finance ministers made a concerted effort to bring the dollar down by intervening in the currency markets. The U.S. currency fell nearly 5% against the yen and about 4% against the deutsche mark by week...
...currency experts believe that the dollar will rise again in the next six weeks to three months, since U.S. interest rates remain relatively high compared with levels in Japan and West Germany. The prime reason for high U.S. rates is the heavy Government borrowing necessary for financing the budget deficit...
...federal gasoline tax. Anyone can understand it. At a flat 9.1 cents per gal., it's easy to collect and reasonably fair, since the more you use the roads, the more you pay for them. It also discourages things we want to discourage: dependence on foreign oil, the trade deficit, pollution and traffic. As taxes go, this one's a winner...