Word: forded
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Dates: during 1980-1989
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DEFICITS. The figures are almost as shocking as expected. For fiscal 1982, which ends Sept. 30, Reagan now predicts a deficit of $98.6 billion, by far the biggest ever; the previous record was $66 billion under President Ford in 1976. Even if all his proposals are enacted, Reagan calculates, the deficit would shrink only to $91.5 billion in the coming fiscal year, and would be $82.9 billion in fiscal 1984, the year for which Reagan's 1981 budget message had forecast a small surplus. The inescapable conclusion: somehow in twelve months there had developed a $100 billion misunderstanding...
Robert London was a Ford car salesman with his share of the comforts of middle-class life in Southern California, He drove a leased Mazda RX 7, rented a pleasant apartment in the Los Angeles suburb of Glendale and had a closetful of sports jackets and ties. A bachelor, London spent almost all of his income, which in better times reached $2,000 a month...
Suddenly, linkage became a rallying cry for those who felt the Soviets were getting more out of détente than the U.S. In the Ford Administration, the concept was expropriated by Kissinger's opponents on Capitol Hill, and transformed into a rationale for pressuring or punishing the Soviet Union. Congress in 1974 withheld economic benefits to the Soviets unless they would agree to ease restrictions on Soviet Jews who wanted to emigrate. Instead, the Kremlin actually cut back on the number of Jews allowed to leave...
...Ford's employees seem likely to make some concessions to the company. Says Walt Humphrey, a transmission worker at Ford's Louisville assembly plant: "I'm willing to show the American people that we are ready to sacrifice. It might swing them back to American products." GM workers, however, appear to be taking a harder line. Says Pete Kelly, a wood-model maker at the GM tech center in Warren, Mich., and a leader of dissident U.A.W. members: "If we give concessions now, they will automate that much faster and there will be more workers...
...hourly workers to make wage concessions that would save the company $150 million. The automaker, which has only 2% of the domestic market, has lost some $300 million over the past two years. While cuts in wages and benefits are important to restore General Motors and Ford to financial health, they could mean the survival of American Motors...