Word: forecasters
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Dates: during 1970-1979
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...Missiles. The panel's simplest recommendations forecast schools resembling prisons. All classrooms would be locked when not in use (many already are) and teachers would have to return their keys to the principal's office before leaving each night. Outside handles would be removed from all doors save the main one, to deter students who had been suspended or expelled from coming back in and roaming the halls. Every student would have an ID card. Since fights often break out in cafeterias, the panel suggested that schools substitute plastic garbage bags for the metal cans that are now turned into...
...persuaded him to reject it openly. It was Shultz who argued, over the objections of Paul McCracken's Council of Economic Advisers, that the Administration should base its 1971 policies on the expectation that the gross national product would soar from $974 billion to $1,065 billion. He confidently forecast that the target would be hit if Burns' Federal Reserve pumped out enough money, which it certainly has. For his part, Burns forecast a more realistic $1,055 billion, and the Commerce Department now projects that the year's figure will probably come out at about $1,051 billion. With...
Then came the charm. "In our country," Premier Chou told his appreciative guests, "you would be considered high intellectuals, and you have a heavy responsibility." He also observed approvingly that "American youth is gradually raising its political consciousness." Chou forecast that "when you go back you will introduce new American friends to us. Also some black friends. Let them all come to China to have a look. Of course, we will also return the visits...
...about 7%. The men at the Camp David conference, however, were scared stiff when they got their first look at new budget estimates. They were calculated on the assumption that the gross national product will reach only $1,050 billion this year, rather than Nixon's unrealistic January forecast of $1,065 billion...
...forecast now is that revenues will drop enough below projections to produce deficits of about $22 billion both for fiscal 1971, just ended, and for fiscal 1972. The 1972 figure is almost double the $11.6 billion deficit that Nixon predicted in his January budget message. Democratic economists believe that at a time when business is operating with considerable slack, the nation could stand even larger deficits without much risk of accelerating inflation. But many of Nixon's advisers deeply fear that greater deficits would be violently inflationary...