Word: gdp
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Dates: during 1990-1999
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...spread of a bovine brain sickness that could potentially kill people who consume the diseased beef. "The government is muddling through this," says TIME's Barry Hillenbrand. "They don't know which way to turn." Hillenbrand reports that economists project that slaughtering the British cow herd wouldreduce the GDP by as much as 0.5 percent and negatively affect the balance of payments by as much as $3 billion. "Economically, slaughtering the entire herd would be a disaster," says Hillenbrand. The European Union veterinary council is still studying the matter and has not yet decided whether it will enforce a Europe...
...fiscal sanity is not the goal. Reducing the scope of the government is. So there is much more to do. How much, exactly? Newt Gingrich doesn't say. But his chief lieutenant, majority leader Dick Armey of Texas, says the proper goal is to cut the federal share of GDP in half, to 11% from its current share of 22%. That's revolutionary...
...recent years, the U.S. investment rate has lagged significantly behind that of other countries. Currently, the U.S. spends only about 15 percent of its GDP on investment...
After the election, however, Chirac and Prime Minister Alain Juppe confronted a hard reality: to meet the budgetary requirements for joining Europe's single currency by 1999, France must drastically reduce its public deficit from 6% of its GDP, or $83.6 billion, to 3%. As a result, in a jolting reverse, Chirac has abandoned his pump-priming promises in favor of a two-year program of new taxes, limits on social spending, and a public-sector wage freeze...
...because it is in the nature of things. You can't change two centuries of history. [But] I will not hide the fact that I am very worried about the isolationism of the current American Congress. Concerning aid to developing countries, for example, the European Union, with a gdp roughly equivalent to America's, spends some $31 billion a year and the U.S. $9 billion. I think that the one who pays is the one who has the political power in the final analysis. I hope President Clinton will react against this alarming tendency toward a sort of isolationism that...