Word: hocked
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Dates: during 1980-1989
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Should we settle for that? No. As everyone now seems to recognize, we're dangerously deep in hock. The $2.5 trillion national debt amounts to 50% of our $5 trillion gross national product. There have been times in our history when that percentage was much higher and we did just fine growing our way out of the problem -- World War II sent the ratio of debt up to 127% of GNP -- so don't believe the people who tell you we're doomed. But we're nonetheless well into the discomfort zone. We've got to whittle away gradually...
...debut staging, which won the Tony Award for Best Musical, made a star of Nell Carter, and ran almost four years before becoming an Emmy-winning NBC special. Of course, the producers of this daring venture have a leg up -- or, as it often appears, a ham hock -- because all five of the original actors came back, and The Joint Is Jumpin' better than ever...
...habits as their Government. Consumer installment debt, as a proportion of after-tax income, has risen from 14% in 1983 to 20% last year. Just as consumers during the '20s splurged on such newfangled products as radios and roadsters with rumble seats, today's shoppers have gone into deep hock for compact-disc players and Honda Preludes. The difference is that consumers in 1987 can choose from many more enticing borrowing vehicles, most notably an array of credit cards with huge credit lines at high interest rates. Potentially the most dangerous new device is the home-equity loan. Homeowners...
...18th quarter, fears are rising about how long the magic can last. Suddenly, alarms are sounding louder than ever that those handy piles of debt are taking on the messy proportions of a potential crisis. Individuals, corporations and even Uncle Sam himself are, to put it bluntly, in hock as never before in history. To many concerned experts, the question is not whether but how much the mountainous burden of debt is threatening the economy and the future welfare of every American...
Individuals, corporations and even Uncle Sam himself are, to put it bluntly, in hock as never before in history. Time' s Board of Economists warns that the debts, while still manageable, threaten the economy and the future welfare of every American. -- Pan Am, desperately seeking survival, considers putting its shuttle up for sale. -- London' s messy stock- trading scandal...