Word: deficits
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Dates: during 1980-1989
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Wall's spending spree is motivated partly by deadlines, he acknowledges. The regulator wants to expedite bailouts before the current fiscal year ends, on Sept. 30, so that next year's FSLIC spending will stay within the confines of the Gramm-Rudman deficit-reduction law. Wall's next rescue candidate could be a whopper: the American Savings and Loan Association of Stockton, Calif., whose bail-out may cost $2 billion...
...house for almost 250 performances this season. It derives a hefty 54% of operating costs from the box office, with local corporations subsidizing a further 13% of the $8.5 million annual budget. While a dip in subscription sales last year contributed to a record $684,000 deficit, subscriptions this year are the highest since Sir Tyrone Guthrie's inaugural season...
...three months straight, the statistics had been reassuring the U.S. that its troublesome trade deficit was finally on the mend. Last week came a setback. The Government said the trade gap widened to $12.5 billion in June, from $9.8 billion the previous month. Both sides of the balance sheet showed that overseas producers were once again grabbing a larger share of the market. U.S. exports, which had been rising robustly thanks to the downsized dollar, slumped 2.4%, to $26.8 billion. Imports arrived in a fresh wave, rising 5.7%, to $39.4 billion...
...financial markets took the news in stride, since the situation may not be as bad as the June figures suggest. For the first six months of 1988, the trade deficit is running at an annual rate of $140 billion, a significant improvement from 1987's record $170 billion...
...much as a 6% annual rate, compared with last year's 4.4%. But others voice concern that the hike in the discount rate could damage the economy. Democratic Senator James Sasser of Tennessee is concerned that higher interest rates could strengthen the dollar and widen the trade deficit. A rising dollar tends to make U.S. exports less attractive to overseas consumers at the same time that imports become less expensive for American buyers...