Word: drainings
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...Last week President Ford sent Congress his long-awaited plan to phase out controls over a 30-month period. He hopes that the resulting rise in prices will greatly stimulate domestic oil output without hurting the economy. Congress is likely to turn down that plan; critics charge it would drain $45 billion in potential consumer purchasing power out of the economy over the next two years...
...economy as a big new tax boost would. There is a growing consensus among Republicans and Democrats that some sort of new tax cuts will be needed to cushion the oil shock and keep the economy rising. Says Economist Arthur Okun: "It is crucial that oil prices do not drain real consumer purchasing power...
...anxious for an end to the problems. "We produce a good, clean product," one Iowa soybean grower told that state's Democratic Senator Richard Clark. "I'll be damned if we're going to let petty bribery, sloppy work and greedy exporters throw it down the drain...
...power before he was 40. But as the perennial bad penny of British political life, he keeps turning up at embarrassing moments. Robert Skidelsky's generous biography appears at a time when people everywhere are longing again for order and authority. England is swirling dangerously close to the drain of economic ruin and the possibility of a government dominated by left-wing labor unions...
Political Storm. In France the merger has touched off a political storm. Communists called the deal "sabotage," and Gaullists termed it a "deception." Nonetheless, the deal promises to relieve a drain on the public budget; CII may have chewed up as much as $500 million in government funds over the past 8% years. A purely European solution, like a full merger with Philips of The Netherlands and Siemens of West Germany, would have left the French in a decidedly minority position and without access to the American market, which its marriage with Honeywell Bull now promises...