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...national product to what is regarded as a manageable 2% of G.N.P. in 1988. With tax increases ruled out by the White House and the economy now in a slowdown, precluding a rapid expansion of revenues at present tax rates, there is only one means to dry up red ink: spending cuts even more drastic than the Administration won in 1981. Stockman's recommendation, faced with these all but absurd options, was to slash estimated outlays by $45 billion the next fiscal year, $85 billion in 1987 and $110 billion...
...sharper than expected slowdown in the U.S. economy has made the task of reducing federal deficits more urgent than ever. Nonetheless, for reasons of ideology, politics or both, President Reagan at least for the moment has ruled out all the most obvious methods of stemming the red ink, and the economic slowdown has narrowed the only remaining escape hatch...
WRITING THE BIOGRAPHY of James Boswell, whose Life of Johnson is by common consent the greatest biography ever written, is a task that appears to damn the writer before his ink meets paper. All the more so if one considers that Frank Brady's new book on Boswell's later years completes the cycle started with the 1966 study of Boswell's early years by Federick Pottle, the most esteemed Boswell scholar in literary history. Yet Johnson, who himself overcame a lifetime of adversity, might well have admired a man who persevered despite such an intimidating legacy. Brady's years...
...exuberance, or the fear, that had been variously predicted for the country's first trip to the polls since the 1979 revolution that overthrew Dictator Anastasio Somoza Debayle. Indeed, the Nicaraguan election mood was one of indifference, as citizens lined up to make their choices, then ink their thumbs as a guarantee against double voting. Random visits to polling sites seemed to show that participation by the country's 1.6 million voters was less than the roughly 82% turnout that the ruling Sandinista National Liberation Front claimed as evidence of the election's success...
FICTION: Difficult Loves, Italo Calvino Foreign Affairs, Alison Lurie The Ink Truck, William Kennedy Mr. Noon, D.H. Lawrence ∙ Say Goodbye to Sam, Michael J. Arlen Young Hearts Crying, Richard Yates