Word: importance
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Dates: during 1970-1979
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...Still, few businessmen had a chance to assess completely the program's impact on their own operations. An executive of Lockheed spoke bluntly for many other firms. Just before learning that the British-made Rolls-Royce engines for Lockheed's L-1011 jetliner will be subjected to the 10% import tax he exploded: "The whole goddam nation is confused over the plan, and we bow to no one in our confusion...
...make his ultimatum for foreign revaluation even clearer, Nixon also slapped the 10% surtax on imports to the U.S. The draftsmen of the President's program candidly admitted that the tax is a bargaining chip to be used in winning revaluation of strong currencies against the dollar to the full extent the U.S. deems necessary (around 12%). The tax is also designed to obtain some other concessions, including bigger subsidies from U.S. allies for the maintenance of G.I.s in NATO countries and the removal of import quotas and other nontariff barriers that hurt sales of U.S. goods abroad...
...children on the mainland for their school. O'Reilly's father-in-law found a family with six children willing to make the move. Trouble was, O'Reilly's father-in-law is head of the Portland welfare office, and the family he wanted to import was among his clients. In Maine, a lot of people still believe a man should always earn his own way. The islanders talked and debated and finally made a choice. The family of Carroll Wilcox, a former construction worker, was invited. "They are the right kind of welfare family...
...making them immediately applicable. As a last resort, we could lower the value of the dollar, perhaps by permitting it to float until it found its proper relationship to other currencies. That would reduce the prices of U.S. exports in the world market and drive up import prices." GARDNER ACKLEY, former chairman (1964-68) of the President's Council of Economic Advisers. "The Administration could easily put another $8 billion to $10 billion a year into the economy. What we need are liberalized unemployment insurance benefits, accelerated tax reductions effective now, instead of in 1972 or 1973, and vigorous...
...necessary part of any well-balanced economic policy designed to deal with inflation." JOHN P. LEWIS, former member of the CEA (1963-64). "I would like to see a wage-price review board. It would have more bite than the wage-price guideposts. In addition, we should eliminate import quotas on such things as Japanese steel. This will force American producers to hold the line against wage and price hikes...