Word: enactment
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Dates: during 1970-1979
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...were divided. Nobel Laureate Paul Samuelson, a leading liberal economist from M.I.T., argued that a budget-balancing amendment would be "suicidal [because] economics is so inexact a science and the future is so unpredictable." Conservative Economist Arthur Burns, the former chairman of the Federal Reserve Board, counseled Congress to enact a law requiring a balanced budget "and then, if it works well, take the constitutional route." Another conservative, Alan Greenspan, former chairman of the Council of Economic Advisers, "with great reluctance" conceded that some form of amendment is "the only way in which we can permanently curb [deficit spending...
...Senate's lame measure comes before the House this week. And there it could be in trouble. A potential majority, composed of Republicans and conservative Democrats, seems determined to enact legislation that would bring the Federal Government closer to balancing its budget. Even if they fail this time, the budget balancers are certain to keep trying...
...Korean War in 1950, President Truman helped secure the island from Communist conquest by interposing the U.S. Seventh Fleet between Taiwan and the mainland-an act incidentally that also prevented the Nationalists from trying to reconquer China. American support, both military and economic, eventually encouraged the Kuomintang to enact many of the reforms it had failed to carry out while in power on the mainland. Today, Taiwan is one of the best-run and least corrupt countries in Asia; per capita income has risen from $280 in 1968 to $1,400 now, more than three times that of China...
...team will impersonate every President from Taft to Eisenhower in NBC's eight-part mini-series called Backstairs at the White House. In a bizarre turnabout, Producer Larry Jacobson, of American International Television, has persuaded 16 stars and sports celebrities, including Rosemary Clooney and Neil Sedaka, to re-enact turning points in their lives -everything from nervous breakdowns to deepest career crises. "They actually rented out the apartment I had my breakdown in," marvels Comedian Marty Ingels, "and hired the girl that kept me alive for nine months by bringing me soup...
...federal court in Portland, Ore., to have the standards declared illegal. The charge: the program is mandatory, and the President has no congressional authority to impose it. United Auto Workers President Douglas Fraser insists that the only way to win labor's support would be for Congress to enact the President's proposal granting tax rebates to obedient union members and other groups if the inflation rate next year exceeds 7%. But Fraser doubts that Congress will pass such legislation in view of the chilly reception it has received from Ways and Means Chairman Al Ullman. Many Government...