Word: ink
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...whirlwind of high-pressure politics, Ronald Reagan was waging the most perilous and difficult fight of his presidency. The stakes were high. If he failed to persuade Congress to pass a deficit-checking $99 billion three-year tax hike, the already swollen tide of red ink in the federal budget would rise even higher, swamping hopes for economic recovery and threatening deeper recession. Politically, a President who seemed to have a magic wand for passing major legislation would have shown that he could no longer control even his own party on Capitol Hill. The myth of the Great Communicator...
...borrow, that is. Interest rates now hover around 17%, and many simply cannot afford to take out another loan. American farmers were $200 billion in debt this spring, which is more than twice as much red ink as in 1975. Younger farmers, as well as farmers who borrowed heavily over the past decade to expand their operations, have been especially hard hit by high rates. Farmlands, which once served as attractive loan collateral, are falling in value, and thus many commercial banks no longer view farmers as worthy risks. In the past ten years, commercial bank participation in farm debt...
...President nonetheless praised Congress for resisting "specialinterest pressure for still more red-ink spending." Republican Cohen saw the matter differently. He compared the conservatives who had supported the amendment, only days after voting for new spending projects in their home states, to St. Augustine, who had prayed, "Dear Lord, give me chastity-but not just...
...modern economy is not just a dismal saga of inflation though. The S.M.A.P. can also remember when the first ball-point pens came on the market for $12.50. No longer, said the ads, could ink leak from your fountain pen and ruin your new shirt. The S.M.A.P. had in those days a rich friend who spent $52 on the Fritz Busch performance of The Marriage of Figaro (on 17 breakable records); that version, one of half a dozen, now costs $18. When the S.M.A.P. first went to Europe in 1946, the only way he could find to get there...
...have stumbled forward, and several teams have volunteered the information that they have been arranging treatment for their user athletes for some time. Sports editors in the 28 league cities sent their reporters out after the local angle, and the story dripped, dripped, dripped. This summer, drugs got more ink than draft choices...