Word: fiscal
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...crusade he has embarked upon requires that he balance two competing messages: the U.S. must resolutely rearm to counter the Soviet threat, but it must project its peaceful intent along with its military might. Congress must be convinced that his $274 billion defense budget for fiscal 1984 ought not to be gutted. The nuclear freeze movement at home and abroad has to be countered so that the U.S. can upgrade its strategic forces and proceed with deployment of NATO missiles. And the Soviet Union needs to be persuaded that the West will not shrink from nuclear competition if its proposals...
Even with this concerted public relations offensive, the Administration will have serious trouble salvaging what it considers to be an acceptable defense budget in Congress. House Democrats last week passed their own version of a budget for fiscal 1984, which begins in October. Depending on how inflation is calculated, the Democratic plan raises defense spending by about 2% to 4%, compared with the more than 10% after-inflation boost that Reagan wants...
Underlying Reagan's speech last week was his unwavering contention that questions about the proper level of military spending should be divorced from the nation's overall budgetary and fiscal situation. The determining factor, Reagan insisted, should be the level of threat posed by the Soviets. "Our defense establishment must be evaluated to see what is necessary to protect against any or all of the potential threats," he said. "The cost of achieving these ends is totaled up and the result is the budget for national defense...
Worldwide credit crunch? Faltering stock markets? Oil at $110 a barrel? Mere trivialities for the $25 billion yacht industry. Annual sales over the past five years have grown 10% to 15% and show no signs of tanking, thanks to increasing numbers of wealthy buyers from developing countries. In the fiscal year ending September 2007, Sunseeker's sales jumped 18.5%, to $473 million. And other yachtmakers are enjoying similar returns. Italy's Ferretti, for example, saw its production value jump 21% last year, to $1.37 billion...
...some ways, Paul is a throwback to the frugal and isolationist wing of the old Republican Party, the fuddy-duddy GOP of Robert Taft and Calvin Coolidge. His fiscal policies evoke the idealistic Republican revolutionaries who seized control of Congress in 1994; he wants to abolish the IRS, the Departments of Homeland Security, Education and Energy, and most of the federal government. He refuses to vote for unbalanced budgets, and he has opposed spending taxpayer dollars on Congressional Medals of Honor, even for Rosa Parks or Pope John Paul II. Typically, his campaign has reported no debts, and still...