Word: inks
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Dates: during 1980-1989
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...vote, few legislators would cry yes. Democrats are howling that further reductions in proposed social spending will strike savagely at the poor. Republicans are so horrified by giant deficits that some staunch conservatives are grumbling that planned defense spending ought to be reduced to stem the river of red ink. As Reagan himself noted in the budget message: "The voices of doubt, retreat and rejection are beginning to rise...
Another flood of red ink dismays economists, bankers and consumers alike...
...that the Administration's deficit spree might induce such tight money that it would abort any recovery. Heller wants to shrink the deficit mainly by raising taxes in 1983, a step that could batter the economy even lower. Some conservative economists predict that the result of the red ink will be higher interest rates. Says Burton Malkiel, an adviser to Gerald Ford and now dean of the Yale School of Organization and Management: "You have a $100 billion deficit running smack against a tight rein that the Federal Reserve has held on the money supply. That will push...
...year-old afternoon daily, once the nation's largest, had been living with the bleak diagnosis for more than a year. In December, its owners, the Charter Company of Jacksonville, finally put it up for sale. Last week, with no takers to be found, and awash in red ink, the Bulletin became another logo in the graveyard of big-city newspapers. Said Charter Communications President J.P. Smith Jr.: "In the final analysis, the paper was unable to generate the circulation and additional advertising revenues ... it needed to survive...
Hoover was rather dour by nature-Secretary of State Henry Stimson described a White House meeting as "like sitting in a bath of ink"-and he insisted that reduced spending and a balanced budget would end the slump. "Nobody is actually starving," Hoover said. "The hobos, for example, are better fed than they have ever been." Other U.S. officials were equally astute. Said Treasury Secretary Andrew Mellon in 1930: "I see nothing in the present situation that is either menacing or warrants pessimism." (Joke of the day: Hoover asks Mellon, "Can you lend me a nickel to call a friend...