Word: fallout
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Atlanta Journal and Constitution writer Mark Bradley came the closest to the way I feel about the Olympics when he wrote--perhaps a touch over-optimistically--"Forget being merely the hub of the New South. An Olympiad and its attendant fallout could make Atlanta a hub of the New America...
...summiteers' only significant achievement so far was to agree in July on a deficit-reduction target of $50 billion. But the fallout from the Middle East conflict has made that goal obsolete. It will be more difficult to make large cuts in defense spending (the Persian Gulf buildup alone is costing $46 million a day), and rising fuel costs have rendered one new source of revenue, an energy tax, politically unpalatable. As a result, both sides agree, the most that the deficit can be cut is $30 billion to $40 billion. They are thus more likely to reach for stopgap...
...What was the fallout politically...
Particularly vulnerable to the fallout of the sanctions is Turkey, which had been getting about half its oil from Iraq. A poor country, Turkey earned as much as $250 million a year in pipeline fees from Iraq, which is among its largest trading partners. Because the location of Turkey makes it a linchpin in the strategy to isolate Saddam, its worries have been taken seriously. Kuwait's Emir has offered to compensate the Turks for most if not all of their financial damages, which Ankara estimates will come to $2.5 billion annually. Because Turkey is so vulnerable to Saddam...
...fallout from last week's invasion of Kuwait by Iraq has already been felt at gasoline stations. A survey conducted yesterday of full-service dealers in Massachusetts showed an average price increase of 4 cents per gallon for regular gasoline...