Word: drains
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Dates: during 1960-1969
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...Open Drain. The rise in doctors' fees and hospital costs comes as no surprise to the Government, which considered both more or less inevitable. What has been a shock, though, is the way a less prominent medical program has worked out: a system called Medicaid, which was set up by Title 19 of last year's Social Security Act. While Medicare covers persons over 65 through the social-security system, Medicaid is a federal-state-local venture to help the "medically indigent" regardless of age. States wishing to participate were to establish phased programs, with each state defining...
Astonished Congressmen are beginning to realize that they have created what amounts to an open-end drain on the federal treasury, and are now considering passing economizing amendments. But the most difficult trick in Government is to take back a benefit once it has been granted...
Gold now constitutes 86% of all French reserves, compared with 73% at the end of 1964. Moreover, the government is squirreling away the precious metal at such a rate as to account for the entire net U.S. gold drain so far this year. Because France lost millions when the British devalued the pound in 1949, De Gaulle mistrusts keeping much of his country's reserves in either pounds or dollars. More than that, attacking the dollar helps him to reduce U.S. influence inside and outside France...
...Grain Drain...
...biggest customer, Canada buys 25% of American exports; it sells the U.S. 70% of its exports. Canada might export even more, but many of its tariff-protected industries remain inefficient by U.S. standards, pay their employees less than similar U.S. workmen earn, and suffer a worrisome brain drain to the south...