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Whatever the motives, the balanced-budget amendment must now be taken seriously. It provides that Congress each year adopt a budget plan under which total spending does not exceed total receipts. Once that is done, "Congress shall not pass and the President shall not sign any bill" that would push actual spending above the estimated totals. As a further prod to keep spending down, taxes could not increase as a proportion of national income unless Congress specifically voted to let this happen (on the other hand, a deficit could legally occur if tax collections fell below expectations). There...

Author: /time Magazine | Title: Balancing the Budget by Decree | 7/26/1982 | See Source »

...Parrel! stretching a Farrell part is a front-line experience; dancing just does not go further . . . And though she advanced to the very limit of the ballet's style, she never toppled into distortion. Farrell's choreography in Chaconne is already a study in rococo excess. To exceed excess and still not distort: quite a feat...

Author: /time Magazine | Title: Books: Turning Words into Motion | 7/26/1982 | See Source »

Reagan's high-stakes offer could spur resolution of the dangerous deadlock in Beirut. But there were rumblings at home and abroad last week that the risks might exceed the potential rewards. Soviet President Leonid Brezhnev sent a letter to Reagan stating that if the U.S. sent its Marines to Lebanon, the U.S.S.R. might counter with moves of its own in the region. Senate Majority Leader Howard Baker of Tennessee called President Reagan to express his concern about the plan. Even within the Administration there were qualms. Defense Secretary Caspar Weinberger, who has consistently opposed committing U.S. troops abroad...

Author: /time Magazine | Title: Sending in the Marines | 7/19/1982 | See Source »

...business has grown, the Bechtels have become one of the world's wealthiest families. Steve Sr., now 81, is said to be worth upwards of $750 million, while Steve Jr., 57, has a personal fortune estimated to exceed $200 million...

Author: /time Magazine | Title: The Master Builders from Bechtel | 7/12/1982 | See Source »

...absent: the U.S. Government refused to let about 300 foreigners, mostly Japanese, enter the country; Washington claimed most were members of Communist-front organizations. New York City's government, on the other hand, went out of its way to accommodate the earnest horde and expected its costs to exceed $ 1 million, including overtime pay to the 5,000 police assigned to oversee the crowds at the U.N., in the park and in more than a dozen converging "feeder marches" from all over the city. Assisting the police were the rally's 3,000 volunteer "peace keepers...

Author: /time Magazine | Title: A Movement Gathers Force | 6/21/1982 | See Source »

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