Word: inflationitis
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Dates: during 1960-1969
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Like many big cities, New York teeters on the edge of bankruptcy. Lindsay imposed a measure of rationality on fiscal operations by ending reckless borrowing to cover operating expenses. But he also increased spending by 75% and imposed a municipal income tax, giving New York City residents the highest taxes...
Quickly, the Communists moved to curb inflation, suppress bandits and warlords, rehabilitate industry and the transportation network, equalize food distribution, establish a tax system and bring the people rudimentary health care. For the first time in anyone's memory, an efficient, honest administration was in charge-though it could...
The new mood-welcome to Washington's inflation fighters but a source of concern to many businessmen-has been building up for months. The trend of retail sales has been flat almost all year. During the twelve months that ended last July, sales rose less than 2% while prices...
Too High a Price. As long as inflation forces the U.S. to restrict the money supply, states and cities will be at a disadvantage in competing against corporations for scarce investment funds. Some local governments may be able to increase taxes or find other ways to raise construction money. But...
To illustrate the difficulty of he scientists position, he stated that one-and-a-half-years ago researchers were getting 15 percent more money, disregarding inflation.