Word: forecasts
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...councilors accepted Healy's forecast without comment. Formal budget hearings could begin next month and a completed budget must receive council approved by July 1, the start of fiscal...
...Borge. A friend of Fidel Castro's with "almost mystical stature" among Latin guerrillas, Borge was jailed and tortured during Somoza's rule. When Somoza fell and Borge got control of the Interior Ministry and the security forces, both the Post and the Times forecast that Borge was now, in the Times 's words, "in a position to control the most radical elements among the rebels." Before long, Borge's men killed one business leader, arrested others, and sent mobs to attack the newspaper La Prensa. Christian concludes: In Nicaragua the American media went...
...starting and continuing so many expensive weapons programs, the Administration is committing the U.S. to enormous outlays in future years that, if experience is any indication, will swell even beyond the huge costs already forecast. Says Colorado Democrat Gary Hart, a leader of the "military reformers" who support increased spending but tend to oppose systems that threaten to grow out of hand: "The Administration is like a python devouring a pig. It's just got the snout now, but when the whole pig is devoured, there will be a huge bulge...
...boost to consumer spending. Recovery, though, will be painfully slow. "We may just have a long, flat bottom with very little growth," said Feldstein, adding wryly, "Only professional economists will know that the recession is over." Even by year's end, according to the board's forecast, unemployment will still hover at 8.7%. Growth in the gross national product is expected to accelerate gradually from 1.8% this year to 3.9% in 1983, a pace that would be only about half as strong as after other postwar recessions. Walter Heller, chief economic adviser to President Kennedy, warned that...
...news on the economic scene, however, is not uniformly bad. The Federal Reserve's policy, along with the recession, has brought down inflation far more rapidly than expected. The pace of consumer price hikes slowed from 12.4% in 1980 to 8.9% in 1981. TIME's economists forecast that inflation will cool further to 6.5% this year. The progress is partly a result of bumper grain crops and the worldwide oil glut, which have moderated food and energy prices. More important, the slump has prodded many unions, from the Teamsters to the United Auto Workers, to scale back their...