Word: ecksteins
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Security, veterans' benefits, Medicaid-under which more Americans every year qualify for benefits that are guaranteed by law to expand. And Reagan last week pledged himself to maintain "necessary entitlements already granted to the American people," though he opposed adding any "new programs funded by deficits." Says Otto Eckstein, a Democratic member of the Board of Economists: "If you are not going to change the entitlement programs and if you want more military expenditures, there is no way on earth that you can achieve savings anywhere near the magnitude [that Reagan proposes] and if you can't achieve...
...Says Rodney Kite, director of agricultural forecasting at Evans Economics in Washington: "Food will be in the forefront of inflation the rest of this year. By December a pound of hamburger or chicken will cost 15% more than it did in June. Pork chops will be 20% higher." Otto Eckstein, president of Data Resources Inc., an economic-forecasting firm, says that by next spring prices of farm products will be up 24% from last spring...
...theory does not always work out, however, in practice. In Europe, it has led to projects like the British-French Concorde, the money-losing supersonic transport that has never found a viable market. Says Otto Eckstein, president of Data Resources Inc. and a member of TIME'S Board of Economists: "It's pretty clear that if we are going to have industrial policy in the U.S., it will back losers, not winners. The whole subject of industrial policy in Washington quickly degenerates into steel...
Nonetheless, it will probably be early next year before business again picks up even moderately. Says New York Business Consultant Kathryn Eickhoff: "The economy has moved from a state of disaster to just terrible." Warns Otto Eckstein, president of Data Resources: "It would be the extreme of irresponsibility and the worst economic policy since the 1930s Depression to let taxes increase at the rate planned." And alongside the conservative tax cutters stood Liberal Walter W. Heller, President Kennedy's chief economic adviser, who called for a reduction of $30 billion. Said he of the fears of renewed inflation: "That...
Moreover, Economist Eckstein warned that the current slowdown in petroleum prices is not going to last. This week the 13 members of the Organization of Petroleum Exporting Countries will meet in Algiers, and are likely to agree on yet another boost in the cost of crude. At present the average worldwide cost of oil is about $31 per bbl., but Eckstein projects that it will rise to $35 per bbl. by year's end and $42 per bbl. by the end of 1981. A rise of that magnitude, more than double the U.S.'s projected climb in consumer...