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...high. White House and congressional leaders merely ducked the issue last month in a sleight-of-hand agreement that cut the 1990 deficit to about $100 billion to comply with the Gramm-Rudman law. But a recession could make a mockery of that rosy projection by swelling the red ink to as much as $175 billion. "Using monetary policy to slow the economy is a poor second-best solution," says David Rolley, a senior economist at the Wall Street firm of Drexel Burnham Lambert. "Cutting the budget deficit is the proper tool. But it is late...

Author: /time Magazine | Title: Look Out Below! | 5/22/1989 | See Source »

...school's inauguration, T.M.G. chancellor Nobumichi Hiraide fostered goodwill by flawlessly crooning the Tennessee Waltz. This fall the school hopes to open a cultural-enrichment center where Sweetwater citizens can view sumi-e (Japanese ink paintings) alongside examples of American...

Author: /time Magazine | Title: Education: Rising Sun over Sweetwater | 5/22/1989 | See Source »

...marker for your message board has run out of ink. Your poster gum doesn't stick anymore. The plant you bought from PBH has withered and died...

Author: By Michael R. Grunwald, | Title: Breakin' Out 'Til Next Year | 5/17/1989 | See Source »

...timers, a slash across a page can be a pensioner's windfall. "In my day, if you turned down an autograph," Bob Feller says, "the kids would spray ink all over you." These days he gets $7. "Why shouldn't I sell my signature? If I'm on the street or at the ballpark and someone asks for an autograph, no problem. But with these shows, there's money to be made. That's where I charge...

Author: /time Magazine | Title: Sport: Assembly Line of Dreams | 5/15/1989 | See Source »

...even a real beginning? In theory, this broad-brush budget outline would comply with the Gramm-Rudman statutory requirement by reducing the deficit to $108 billion in 1990. A more realistic estimate puts the budgetary red ink at close to $130 billion. But numbers cannot convey the political timidity of the President and Congress in stubbornly holding the line against a tax hike, protecting most entitlements and refusing to make more than token trims in domestic and defense outlays. The Rose Garden agreement, in short, has spawned a Sixteen Tons budget that, to paraphrase the 1950s Tennessee Ernie Ford...

Author: /time Magazine | Title: Wait Till Next Year | 4/24/1989 | See Source »

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