Word: deficits
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Dates: during 1980-1989
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SUCH is the situation today, Kennedy and many other prominent academics would have us believe, for the U.S. and NATO. They argue, correctly, that the U.S. must reduce its budget deficit if it wants to maintain its high standard of living but conclude that the proper place for the U.S. to cut back is in the 58 percent of the defense budget that is devoted to NATO...
...unchecked growth of the deficit has occurred because the Reagan Administration has refused to raise taxes or keep the lid on spending for non-means-tested entitlements, such as Social Security, which are geared towards immediate consumption rather than use in savings and investment. As a result, interest payments on the national debt have become the fastest growing line item in the federal budget, not defense spending...
What is inflation? What causes a budget deficit? Many adults know the answers all too well, but most high school students have no idea. So says a survey released last week by the New York-based Joint Council on Economic Education, which found that only one out of three high school students in its 41-state poll could define such basic concepts as profit and the law of supply and demand. The 8,205 eleventh- and twelfth-graders who took the 40-minute multiple-choice test correctly answered less than 40% of the 46 questions. Declared William Walstad...
...economy -- consumers, corporations, the Federal Government -- are laboring under heavy debt loads. An economic slowdown could become a full-fledged recession if a large number of individuals and businesses started defaulting on their loans and sharply curbing their spending. On the Government's part, the huge budget deficits virtually eliminate its ability to revive a sagging economy by using a spending boost as a stimulant. Moreover, a failure to cut the deficit this year would create instability and pessimism in the financial markets...
...potential threats to the dollar, and by extension to the economy as a whole, are the U.S. budget and trade deficits. While the trade gap fell to an estimated $135 billion in 1988 from $170 billion the previous year, some economists fear that it will not keep narrowing at anywhere near that pace because the growth of U.S. exports will slow this year. According to this view, the dollar will have to take a real plunge if the trade gap is to be narrowed much further. This would make American-made goods less expensive for foreign consumers. Recently, the trade...