Word: funds
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Dates: during 1980-1989
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Pamela Harriman, grand dame widow of Averell and a valued Democratic fund raiser, backed Senator Albert Gore in the primaries. Yet she managed to be on the dais with Dukakis, smiling silkily, as he delivered his first major foreign policy speech this month at the Atlantic Council. Georgetown denizens began whispering that she hopes to become the next Ambassador to the United Nations. At the same conference, Andrew Pierre, a Paris-based defense expert, was the first to ask Dukakis a question. "Andrew shot up out of his seat like a Pershing II missile," a colleague knowingly observed. In social...
...Dukakis supporter. Giddily he pursued his comic notion. "He'd be looking in from the door. Look again, and his head is poking through the window. The staff would order drinks, and he'd be the waiter bringing in the tray of martinis." Roger Altman, investment banker and Dukakis fund raiser, who understands the etiquette of job placement, warns, "Those who are qualified for the senior positions don't have to ask for them...
...front door open. The court unanimously upheld a New York City law that bans such discrimination at many private clubs. Boston, Buffalo, Chicago, Los Angeles, San Francisco and Washington have already passed similar laws. More such ordinances are now expected. Says Donna Lenhoff of the Women's Legal Defense Fund: "The last bastion of white male power will be forced to throw in the towel...
...idea takes some getting used to at first. Social Security is in trouble again. Only this time the problem is not too little money but too much. Thanks to a series of increases in payroll taxes that began in 1984, the retirement trust fund currently takes in $109 million more each day than it pays out in benefits. Federal officials expect the accumulated surplus to exceed $100 billion by December and, in the next 40 years, to mushroom to $12 trillion. Every penny will be needed to pay for the future retirement of today's 24- to 42-year-olds...
...surplus can be invested only in Government-insured securities. So far the trust fund has been used to buy Treasury issues -- in effect, financing part of the federal budget deficit. Legislators, however, have proposed using the money for everything from expanding current Social Security benefits to paying for housing for the homeless. Others clamor for a tax cut. Many Washington watchers fear that the Government will simply fritter away the reserve, leaving nothing to the future. Says Geoffrey Carliner, executive director of the National Bureau of Economic Research in Cambridge, Mass.: "As politicians see the trust fund build...