Word: dollarization
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Dates: during 1980-1989
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...deficits are at the core of the problem. (Even if Congress approves the tax bill and adds $21 billion in fiscal 1983 revenue, the deficit is expected to be as high as $150 billion.) "For a conservative President like me to have to put his arms around a multibillion-dollar deficit is like holding your nose and embracing a pig," the President admitted. But the way to get a grip on the "slippery" deficit, he declared, was to raise revenues. It is "the price we have had to pay" to get more spending cuts through Congress. Reagan placed the blame...
...heroin with the coupons. In many cases, defendants are charged with purchasing stamps at a discount, whether from counterfeiters or suppliers with access to stockpiles at state-run issuing offices, then using them to buy just about anything but food. In the larger scams, dealers sell thousands of dollars worth of coupons directly to dishonest food-store owners, who act as food-stamp fences and pay 500 on the dollar before redeeming them for full value at the bank. But there is also a smaller scale, mom-and-pop black market. Some sell their coupons for cash (as little...
...Vegas Strip and a chunk of Waikiki Beach. It is unloading Air Force bases, military ammunition plants, and dozens of dams and water projects. For those who might want to acquire apparently useless land for the simple satisfaction of owning it, the Government is offering? at bottom dollar, if necessary?watersheds, flood plains and deserts...
...unmatched array of rare and valuable paintings; of cancer; in London. Art historian, dealer and critic, Carritt had an unerring eye that enabled him to buy a misattributed Fragonard masterpiece at a public auction, under the noses of other top experts, at a tiny fraction of its present million-dollar value. "When you've become familiar with the work of a master, it's like recognizing a friend's handwriting," he once said. Among his finds were five Francesco Guardi canvases rolled up in an Irish country shed; two Tiepolo ceiling paintings, one in the drawing room...
Meanwhile, the verdict puts new pressure on journalists to play it safe. In the past two years, multimillion-dollar libel verdicts have been returned against the National Enquirer, Penthouse and the tiny (circ. 37,557) Alton (Ill.) Telegraph, which had to file for bankruptcy protection while it negotiated a settlement of the $9.2 million award against it. For such small press enterprises in particular, even the legal fees involved can be destructive. The Tavoulareases so far have spent $2 million on lawyers to fight the case, and the Post's defense has cost $1 million. Bills on such...