Word: dividend
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...best possible use for any peace dividend is reduction of the federal budget deficit. That might begin to restore the U.S. economy to the good health it will need to compete with Japan, the emerging European dynamo and increasingly vigorous Asian countries like Taiwan and South Korea. America's abysmal private saving rate (about 6% of GNP, vs. 16% for Japan) is not sufficient to provide capital for private-sector investment, particularly if Washington continues borrowing half the savings to finance the federal deficit. Devoting the bulk of future defense savings to erasing the deficit would be fitting, since much...
...produce a modest budget surplus by the end of the century, when coupled with reduced defense spending. Economists believe that lower interest rates would encourage productive domestic investment, make U.S. businesses more competitive and thus help reduce the trade deficit. Using only half that dreamed-of $150 billion peace dividend in the year 2000 for deficit reduction would still boost the economy while allowing modest increases in social and infrastructure spending...
...BUDGET. Bush has warned Congress against spending any "peace dividend" from a reduced defense budget. He will propose to cut only about $10 billion in defense for the next fiscal year, and insists that those savings are needed to reduce the budget deficit. When Congress demands deeper cuts, the Administration will challenge members to cut in their own districts by eliminating unneeded military bases...
...prospect of inch-by-inch progress in Vienna and Geneva only underscored warnings that there will be no quick "peace dividend" for the overstretched federal budget. Defense Secretary Dick Cheney's planned $180 billion in Pentagon cuts through 1995 amount to little more than deletions in the military's wish list. Nuclear-arms control saves little money because it normally results in destruction of hardware that has already been paid for and often requires expensive verification methods. Reducing conventional forces could save money, but not much: defense-budget experts from the Rand Corp. to the Congressional Budget agree that...
...talkies and cellular telephones were blasting orders, tuning in scanners to chart the movements of the state police and faxing messages to union headquarters in Washington. And get this, John L.: the union actually launched a stockholders' proxy fight and succeeded in pressuring its employer to issue its first dividend since...