Word: draining
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Dates: during 1980-1989
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...damage the public school system by encouraging parents to put their children in private schools; an estimated 5 million students are enrolled in private schools, compared with 40 million in public schools, and that ratio has remained fairly steady over the past 15 years. Moreover, the tax credits would drain away funds needed to improve public education. Says Albert Shanker, president of the American Federation of Teachers: "There is no more reason to pay for private education than there is to pay for a private swimming pool for those who do not use public facilities...
...cotton on 1,300 acres. He lost $60,000 in 1980 and 1981 and, with the prospect of more losses this year, decided to "get out while the getting out was good." Says Walker: "It's heartbreaking to see about ten years' work go down the drain for nothing...
...high-risk maneuver to boost exports and slow the drain on the country's financial reserves, López Portillo's finance secretary, David Ibarra Muñoz, last month orchestrated a 40% devaluation of the Mexican peso. Unfortunately, the action has done little yet to ease any of the economy's underlying woes. Last week Muňoz resigned, to be replaced by Jesus Silva Herzog, a Yale-educated economist and close friend of Miguel de la Madrid Hurtado, López Portillo's hand-picked presidential successor when nationwide elections are held in July...
...billion between 1981 and 1983, cutting their collective net worth in half, because they are paying high interest rates to attract deposits but collecting low interest on many old mortgage loans. Says New York State Bank Superintendent Muriel Siebert: "I can see 600 to 700 thrifts going down the drain this year, and maybe another 1,100 in 1983." The prospect appears to be causing some people to worry about the safety of their savings for the first time since the 1930s, even though deposits in thrift institutions are federally insured. Carron reports that depositors are withdrawing $1 million...
...effort seemed to drain him, and I feared for his composure. "History," I said, "will treat you more kindly than your contemporaries have." What I remember is that at that moment I put my arm around him, bridging at the end the distance that had separated us on the human level all these years. Nixon does not report it in his memoirs. So perhaps it did not happen, and I only felt like doing it. Or perhaps Nixon did not want to admit that he needed solace, an emotion that he considered weak but that was in fact the most...