Word: deficits
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Dates: during 1980-1989
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MOST economic experts agree that the trade deficit is the result of more than an overvalued dollar. American industry is getting beaten in the world market by being slow to innovate. Surpluses that foreign countries channel into research and development are divied up by American companies as short-term profits. While foreign governments help develop new competitive advantages for their companies, our elected leaders allow Wall Street executives to squander time and money on corporate takeovers, which produce nothing...
...Feldstein goes a step beyond a dispassionate economic argument by making his plan into a panacea for the trade deficit--when it's not. The United States could let the dollar fall to eliminate its huge trade deficit. As American goods get relatively cheaper and foreign goods more expensive, America will be selling more and buying less, until eventually our trading accounts balance. In fact, Bush may choose to follow this plan to eliminate the deficit...
...real issue isn't whether it might be more efficient in the short-run to let the market decide the value of the dollar. It is whether we should be satisfied with eliminating the trade deficit by compromising future competitiveness and our present standard of living...
Perestroika, now in its fourth year, seems stalled, and has yet to bring much improvement in economic conditions, with worsening shortages of food and consumer goods. The economy is afflicted by a $58 billion budget deficit, a $12.8 billion cleanup bill after Chernobyl, and serious losses in revenues from declining oil prices and the enforced drop in vodka sales. Now the billions of rubles that will have to be spent on reconstruction of an area about the size of Maryland must be figured in. Prime Minister Nikolai Ryzhkov admitted last week that the Soviet leadership "made a mistake" when...
Except for a couple of hitches on the deficit and Nicaragua, the world that Reagan described is going like gangbusters his way, particularly the Soviet Union. After the New York City spectacle the day before with Mikhail Gorbachev, reporters did not argue. "I just wasn't up for it," grumped ABC's Sam Donaldson...