Word: growths
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Dates: during 1970-1979
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...Board of Economists has a good record of prognostication for previous years, but any forecast is subject to error. The most President Carter will concede is that real G.N.P. growth next year may fall below his official target of 3%. The Administration script calls for a "soft landing"-two or three quarters in which output gains are small but nonetheless real. High interest rates, in the opinion of Carter's advisers, no longer bite down as hard on business activity as they once did, and so far there are no signs of the imbalances, like a pile...
TIGHT MONEY. Excessively fast growth of the nation's money supply has been an important cause of inflation. The Federal Reserve has created so much money partly to cover budget deficits, partly to meet the credit demands of a growing and inflationary economy. Throughout 1978 the Fed kept letting interest rates rise to discourage borrowing; banks raised the prime rate 14 times, by a total of almost 4 points, to 11.5%. Loan demand stayed high, however, and money supply kept bounding up; in September it rose at an annual rate of 15.8%. But the cumulative effect of the interest...
...most important distinctions in reporting growth, inflation or jobless trends is whether they are calculated "year over year" or "fourth quarter to fourth quarter." The difference can be substantial. Say that the economy rises fast during one year but is absolutely flat the next year. Even so, the averages would show a fairly strong year-over-year rise...
Unfortunately, budget trimming by OMB seems small when weighed against the remorseless growth of federal expenditures that are mandated by law. Such "entitlement programs" as Social Security. Medicare and federal pensions account for nearly two-thirds of the budget, and in HEW they claim 89c of every dollar. Social Security alone costs $104 billion. Unless the growth of benefits is slowed, the whole Social Security system?as well as the budget?will be in deep trouble. Says Alice Rivlin, director of the Congressional Budget Office: "If you're really concerned about the growth in Government, then you have...
...stand-up comic; and The Great Gonzo, the magnificently inferior creature whose inventors insist, despite damning evidence, that he is not a turkey. Monsters are the remaining important category of beings: such enormities as Sweetums, who is about 9 ft. tall and covered with a three-day growth of brownish shag, and Thog, who is a good deal bigger and still growing, lend chaos to the goings-on but don't say much. Other apparitions, such as the 7-ft. carrot with whom Gilda Radner of Saturday Night Live sang a duet from Gilbert and Sullivan, fit messily into miscellaneous...