Word: gross
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Dates: during 1970-1979
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Last week's statistics lent weight to the President's position. In the final quarter of 1975, the gross national product rose at a rate of 4.9%, its third consecutive quarterly increase; and inflation climbed at a 6.8% rate, down .3% from the preceding quarter. The New York Stock Exchange last week set a one-day trading record of 44,510,000 shares, and the Dow Jones industrial average surged 26.85 points in two days, to 987.80-its highest level in three years...
...receive substantial budget increases in the new plan is private industry. Healey's rationale: Britain cannot go on consuming wealth unless her industries produce it first. "If we want to regenerate manufacturing industry," said Healey, "we must leave enough resources free from public expenditure." While Britain's gross national product has risen less than 2% over the past three years, public spending has skyrocketed by almost ten times that figure. Such spending now devours a staggering 60% of the G.N.P., up from 50% in 1973 and 42% in 1960. The national debt has risen from $8 billion...
Both finals matches featured Princeton players. Bob Fisher took a quick 6-4, 6-1 win from Bob Hauptfer of U of Virginia and in doubles John Gross and Tom Brightfield showed their higher ranking teammates Dutton and Fisher a few tricks in a 7-6, 4-6, 7-5 contest...
More to the political point, on a 1974 gross income of $147,683.10, he paid $62,281.20 in federal, state and local taxes, placing Ford among those who paid 42% of their income in taxes. This provides a partial contrast with Ronald Reagan, who has conceded that he paid no state income taxes at all in 1970 because of legitimate deductions for "investment losses." Reagan has promised to furnish a fuller explanation of his own financial situation soon...
...mood was one of cautious optimism for the rest of 1976-but deep worry, at least among the liberals, about 1977. So far, the economists agree, the recovery is proceeding right in line with their forecasts (TIME, Dec. 22), which call for a rise of about 6% in real gross national product this year and a decline in unemployment to somewhere between 7% and 7.5% by year's end. Last week the Department of Labor reported that the jobless rate dropped from 8.3% in December to 7.8% in January. That was the steepest monthly decline in more than...