Word: hike
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...financial community that they can weather the current Latin debt crisis. In part to compensate for the Brazilian losses, banks boosted the prime rate, which is widely used in determining the interest not only on commercial credit but on home-equity and other consumer loans. The rate hike means more interest income and profits for the banks...
...more transparent congressional maneuvers in recent memory: lawmakers last February voted against boosting their annual salaries from $77,400 to $89,500 -- one day after a presidential order establishing the pay hike had gone into effect. The move allowed Congressmen to tell constituents they opposed the increase even as they pocketed the extra cash...
...first installment of the raise appeared in congressional paychecks last week, 57 House members and 13 Senators said no to the $12,100 pay hike. Most of the refuseniks donated the money to charity or returned it to the U.S. Treasury. The honorable gesture shocked one of Senator Alan Simpson's most loyal supporters. Says the Wyoming Republican: "When I told my wife I gave the money back, she said, 'You did what...
Last week congressional Democrats, led by Senator Edward Kennedy of Massachusetts and Representative Augustus Hawkins of California, unveiled a formula for keeping minimum-wage earners from falling farther and farther behind the rest of the work force. They introduced legislation that would hike the minimum by nearly 40%, to $4.65 an hour, by 1990. After that, the rate would be tied to half the average hourly U.S. wage. Kennedy says it is "unacceptable" that the current minimum wage "does not permit full-time workers to provide the bare necessities for their families...
...stiff hike up the hill from the Red Dog, nobody in the state capitol building sees anything to chuckle about. When Steve Cowper, the new Governor of the largest state in the union, looks out his third-floor window, his horizon does not stretch far enough to see another boom, or even a boomlet. What he sees is a budget deficit of $882 million and diminished prospects for the state's heretofore pampered citizens. A man who favors cowboy boots and long silences, Cowper says sardonically, "It's a four-year term unless they burn me out of the mansion...