Word: leveler
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Dates: during 1970-1979
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...occur until later. Presidential aides cited figures indicating that the economy grew at a robust annual rate of 6.9% in the final quarter of last year, pretax corporate earnings soared at an annual rate of 26.4% over the year before, and unemployment dropped to 5.7%, its lowest level in 4½ years. All that normally good news suggested an economy growing too fast to thwart inflation...
...reduce overstaffing. Food shortages have created a thriving black market that is feeding an unofficial inflation rate of 200%. Many of these problems would be relieved by fresh oil revenues, and as of last week production was up to 2.5 million bbl. per day, or about half the normal level. The question was whether these revenues, welcome as they were, would be sufficient to get Iran moving again...
...certain genius for accumulating cash, it seemed unlikely that he would succeed in reinstating himself on an island that has been impoverished by his greed and mismanagement. The economy is nearly bankrupt, 50% of the labor force is unemployed, and most of the islanders live at subsistence level. Last week Bishop's government was planning to establish farming cooperatives and to seek foreign aid in an attempt to repair the damage...
...Carter Administration has hoped that a doubling of coal output by 1985 would reduce the U.S.'s dependence on foreign oil. But production has risen by only about 10% from last year's strike-depressed level of 654 million tons, and consumption of the fuel has remained stagnant. Coal today supplies about 18% of U.S. energy needs, an increase of less than 1% since 1973, the year of the Arab oil embargo. Meanwhile, mines have closed, expansion plans have been shelved and by industry estimates, up to 10% of the nation's more than 200,000 miners...
Meanwhile, the level of care at the state hospitals is getting worse. As storage centers for the hopeless, the hospitals are easy targets for cost-cutting state legislatures. Also, fewer first-rate psychiatrists want to work where the possibility of cures is so remote. Foreign psychiatrists, some of them unlicensed, have flocked to these institutions. Many, to be sure, do extremely competent work. Spanish-speaking doctors, for example, have been able to provide better levels of care for Hispanic patients. Nonetheless, the overall quality of these foreign doctors has raised a clamor for legislation by Congress that would stop...