Word: indexes
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Dates: during 1970-1979
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...average number of weekly hours worked and 1.2% decline in real gross average weekly earnings. Another twelve major labor areas were added to the list of places with "substantial"-6% or more-unemployment. The only comfort was provided by a rise of .6% in the consumer price index, the lowest increase since April 1974-an indication that the recession is slowing the rate of inflation...
...increases in outlays for a broad range of federal benefit programs whose payments to recipients rise with the consumer price index. Among them: Social Security, civil service and military retirement payments and food stamps. Spending for all such programs would actually go up by $11.7 billion in Ford's budget; without the cap they would probably rise to $17.8 billion. Ford's justification for the ceiling: payments in these areas have increased faster than inflation in recent years...
...slash of $6.2 billion in other social programs not tied to the consumer price index. For example, Ford would shave $1.4 billion from Medicare through changes in cost-sharing formulas that would require patients to pay more in certain cases...
Strong Prop. Inflation shows signs of abating. The wholesale price index has dropped 0.5% since November; retail prices are being marked down for a wide range of goods-clothes, appliances, and notably autos (see cover story next page). Because inflation and interest rates are relaxing in several parts of the world, stocks have been rising on the European and Japanese exchanges; in London, where shares recently scraped a 21-year low, values have jumped back by 62% since...
Most judges do not really expect their salary to match that of the top-grade private practitioner, but virtually all of them are galled by the knowledge that since 1969 other federal employees have had a 38% increase to cope with a 42% rise in the consumer price index. Says Carl McGowan, a respected judge of the District of Columbia court of appeals since 1963: "I took this job knowing the pay rate, and my wife and I figured that we had enough saved to make it, to complete the education of our children. But I'm not really...