Word: inkly
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...some journalists are born with printer's ink in their blood, as the old expression has it, then TIME correspondents have veins filled with airplane fuel. Chasing the news, they can log more miles in a month than most mortals do in a lifetime. Few correspondents are more thoroughly traveled than Mexico City Bureau Chief John Borrell, who directs TIME's coverage of Central America, including this week's six-page report on the region's uncertain advance toward peace...
...owned assets, known as privatization. Until now, that sell-off has been Europe's most open homage to the free-enterprising ethic of Reaganomics. The theory was that bloated state businesses would slim down after privatization, streamlining operations and improving profits as well as stanching flows of government red ink...
...rewards, failed to produce an offsetting revenue bonanza. While sky-high interest rates and the 1981-'82 recession might be partly to blame, supply-side critics say the idea was faulty from the start. In any case, the budget deficit exploded as Government receipts shrank. The flow of red ink nearly tripled in two years, hitting $207.8 billion in fiscal 1983. It would have been even higher if Congress had not adopted a $98 billion tax increase in 1982, which Reagan grudgingly signed. Moreover, the deficit kept mounting despite the Administration's imaginative revenue- boosting plans, which ranged from...
...even to start working out some long-range solution to its gargantuan budget and trade deficits? As last week's wild price whipsawing demonstrated, no one can predict stock prices and volume for even a few hours. But if the U.S. continues to float on a sea of red ink and foreign debt -- well then, many financial experts suggest, sooner or later the markets can expect the real crash. How it could be much worse than Black Monday is as difficult to imagine as was Black Monday itself just days before. But the world had better hope it never finds...
...long been one of the U.N.'s pickier dues payers. Moscow has consistently refused to ante up for special operations that it opposed politically, starting with a peacekeeping force at the Suez Canal in 1956. But last week the Soviets announced that they will mop up their red ink, paying a total of $197 million in outstanding debts owed for peacekeeping operations in the Middle East dating back to 1975. Moscow's check will erase its current IOUs, but not its historical ones. In 1973 the U.N. ceased billing the Soviets for some $67 million worth of debts...