Word: gap
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Dates: during 1960-1969
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...feature is designed to aid lower-and middle-income groups. > An additional $1,100 income exemption for those with annual earnings of $3,300 or less, aimed at removing 5,500,000 poor families from the tax rolls. > A new schedule for single taxpayers designed to narrow the gap between what they pay and what is paid by married people with the same income. Single people now pay up to 40% more...
...relax the money squeeze well before ballot time. But at least one of the President's most trusted advisers has counseled him to risk unpopularity in 1970 and concentrate on stopping inflation before the 1972 presidential race. Any letup now, he feels, would give Nixon a politically lethal credibility gap on the issue of inflation?a gap that could
...imposing a 10% reserve requirement on borrowed Eurodollars. Thereafter, the banks circumvented restraint by issuing vast quantities of commercial paper ?unsecured promissory notes. Belatedly, the Reserve Board plugged that loophole by placing an interest-rate ceiling on commercial paper. Now, big Manhattan banks have found still another gap in the Federal Reserve's regulations. To raise funds for domestic loans, they have begun selling large-denomination certificates of deposit to foreign central banks, which have plenty of U.S. dollars...
Some of the loopholes were deliberately allowed to stay open, authorities admit. Federal Reserve officials feared that if they had closed every gap in the regulations, some banks might have failed. In a banking system based on confidence, that might have touched off a financial panic, something that the Federal Reserve is sworn to prevent. Still, Board Chairman Bill Martin admitted to Congress that the "safety valve" had become "an escape hatch through which restraints are being avoided." The banks also flooded the country with new credit cards, which stimulated consumer spending and certainly did not reduce
...Clive. Following the four boys and the colonel, the author explores the minds of troubled youth and the sexual and emotional problems of their parents. He also probes the impact of such contemporary events as the Viet Nam War and the cultural anomie that characterizes today's generation gap. In the hands of Clive, even the philosophical jargon of youth becomes a powerful weapon. "The Turks like things broken and helpless. Destruction is a form of possession," he observes in an Iago-like attempt to dominate the inquisitive colonel. "War is the great sexual game. You could say that...