Word: hugeness
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Dates: during 1970-1979
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...under which the victor in the California primary -undoubtedly Reagan -would automatically win all of California's 168 delegates to next year's G.O.P. convention. The anti-Reagan forces would like to revise the law so that if no candidate got 50% of the primary vote, the huge California delegation would be proportionately divided among the winner and the losers. Reagan supporters remain blithely convinced that however the matter is resolved, their man can win the nomination...
...abiding, almost sentimental "special relationship" with its former colony.* Washington is concerned about preserving the Philippines as its main military springboard in the Far East. In return for $500 million in military assistance over the next five years, the U.S. by treaty has "unhampered use" of the huge (97 sq. mi.) naval facility at Subic Bay and Clark Air Force Base on Luzon. Those installations face Indochina across the South China Sea. They played an important role in the Viet Nam War, and have acquired renewed geopolitical importance as the only counterweight to the Soviet Union's progressive military...
Manila's Malacanñ:ang Palace recalls an 18th century European royal court. At the top of a sweeping, crimson-carpeted-staircase, huge chandeliers dominate the great hall where Cabinet ministers, ambassadors and favor-seekers wait to be received in audience. Inside the President's book-lined office, rows of brown leather chairs lead to his desk, which stands on a raised platform flanked by Philippine flags. In a palace interview last week with TIME Correspondent Ross H. Munro, Marcos exuded confidence as he talked about the future of his regime and his country. Despite rumors that...
...ailing Chrysler Corp. has been using $400 rebates and the pitching of Joe Garagiola to whittle down its huge inventory of unsold cars for a month now, but the firm's most important marketing drive is just beginning. Late last week the nation's No. 3 automaker submitted to Treasury Secretary G. William Miller a 27-page recovery plan with 90 pages of exhibits that laid bare inside details on profitability and marketing strategy of a kind that no automaker had ever before revealed. Said one Chrysler official: "We are really taking our pants off on this...
...results. In its extreme Kemp-Roth form, the damage to capital formation and work effort by the tax system is said to be so great that massive tax relief would create more supply than demand and lower inflation. This is indeed a counter-Keynesian conclusion since it associates a huge increase in fiscal stimulus with a reduction in inflation. The challenge to this school of supply economics is to show empirically that the supply response created by a massive tax cut would be greater than the boost in demand. Otherwise, Kemp-Roth is just another recipe for inflation...