Word: deficits
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Dates: during 1990-1999
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COMPETITIVE ADVANTAGE The demise of the Soviet Union shifted resources from defense to more productive uses and opened new export markets, labor pools and natural resources. Government's belt-tightening means Uncle Sam needs to borrow less, leading to lower interest rates. This year the deficit is expected to shrink to about $70 billion, down 75% from $290 billion in 1992. The annual red ink is now less than 1.4% of gross domestic product, the lowest of any industrialized country. Result: a productivity-driven boom...
When Goldin took over NASA in 1992, he knew that in deficit-conscious times, this kind of trust-fund spending could not continue. From now on, he decreed, the luxury ships of the past would be scrapped. In their place would be stripped-down spacecraft built essentially from available, off-the-shelf parts. What's more, the new ships would not contain a whole science lab's worth of instruments and experiments, but just a handful--generally the ones the scientists deemed absolutely essential to make the trip worthwhile...
Against that backdrop of intimidation, members of the victorious Megret team began to turn the city into a laboratory for their ideas. They first had to sop up a $10 million budget deficit. The main savings came from slashing subsidies to local cultural and sports associations and firing 147 contract employees, most of whom worked with the immigrant community. Choosing enforcement over crime prevention, they nearly doubled the local police force from 36 to 60 officers. "The police have a new attitude," says Deputy Mayor Hubert Fayard. "Before, they weren't respected. Now they will seek contact. If they...
...holds up, Skuse's theory might also explain why boys are more likely than girls to develop autism and attention-deficit disorder--conditions that involve difficulties in interacting with others. But until those social genes can be isolated, Skuse's theory remains just a theory...
...which for the first time includes the economically demolished Russia, will be more than show and tell. On the agenda are some tough issues for Clinton, including debate on NATO expansion and how to integrate Russia more fully in the global economy. The issue of America's ballooning trade deficit with Japan will be taken up immediately, with Clinton and Japanese Prime Minister Ryutaro Hashimoto holding a one-on-one in advance of Friday's kickoff. In a bit of surprising news on the Japanese front, the Administration announced an agreement with Japan that will allow the U.S. greater input...