Word: financee
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Dates: during 1960-1969
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Until last week the plot was thus about as involved as Dick and Jane. Enter Russell Long, chairman of the Finance Committee and junior Senator from Louisiana, some of whose campaign contributors look upon a cut in the oil-depletion allowance as something akin to matricide. With scarcely a sideways...
The fight pits Prime Minister Indira Gandhi against the party's so-called "Syndicate," a closely knit group of conservative big-city bosses. The issue is the political direction of the party. Ever since she took over three years ago, Indira has attempted to push Congress toward the socialist...
What investors saw on the tax-and-money front in Washington last week was just the opposite. Extension of the tax surcharge has become the symbol of the Government's determination to fight inflation; if it is not extended, the Federal Reserve will have to make money even tighter...
Testifying before the Senate Finance Committee last week, Treasury Secretary Kennedy defended the recent rise of the prime interest rate as a normal and necessary response to inflation. Said he: "We are paying for past sins."
The plan has the particularly unattractive name of "crawling peg," but it has a notably attractive list of advocates. It was popularized largely by Princeton Economist Fritz Machlup, and lately has been advocated, in one form or another, by German Economics Minister Karl Schiller, French Finance Minister Valery Giscard d...