Word: inks
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Dates: during 1980-1989
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...with so many of the President's sweeping pronouncements, his comparison of federal and state finances contained much appeal, some merit and considerable oversimplification. To be sure, the federal red ink is overflowing. The Congressional Budget Office predicted last week that even if the President gets all the spending cuts he wants, which seems highly unlikely, deficits will average about $185 billion a year for the next five years, rather than declining to $144 billion by 1988, as the Administration projects. Meanwhile, the states, all of which except Vermont are forbidden by their own laws or constitutions to operate with...
...increase of more than 12%, or about 6% even after allowing for inflation. Moreover, defense outlays would go on increasing rapidly in later fiscal years, partly offsetting the continuing effect of economies in civilian spending. One result: Reagan would fail to achieve his stated deficit-cutting goals. Red ink would indeed dwindle, from an expected record $222.2 billion in the current financial year to $180 billion in fiscal 1986 and $144.4 billion in 1988. But that would be well short of the $100 billion target the Administration had set for itself...
Ginsberg inscribed a quote from author Jack Kerouac and stamped an orange-ink copy of his Buddhiss name, "Loon of Dharma," Into the young man's book...
Held up by the Socialists as a model of an efficiently run nationalized French industry, Renault has been engulfed in red ink since Hanon took over three years ago. Last year it fell from first to sixth place in sales among European automobile firms and lost nearly $1 billion...
...states argue that their fiscal well-being is fragile. Their aggregate surplus is less than half the prerecession total of $11.2 billion in 1979. Some 40% of the current black ink is concentrated in just five states: California, New Jersey, Minnesota, Texas and Wisconsin. Moreover, financial experts consider a healthy surplus to be 5% of total state spending; this year's surpluses average between 3% and 4%. The reserves are highly sensitive to economic fluctuations. Explains James Burton, executive secretary of California's commission on state finances: "A small dip in the national economy can wipe...