Word: limits
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Dates: during 1980-1989
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...personable Boskin was one of the main architects of Bush's flexible- freeze plan for cutting the budget deficit without raising taxes. To make ^ the freeze work, the Bush team would have to limit increases on most domestic spending to the inflation rate and at the same time boost economic growth and reduce interest rates. Many economists think that combination would be quite tricky to arrange. Says Lawrence Summers, a Harvard professor and former adviser to Michael Dukakis: "I would not want to skate on a flexibly frozen lake...
When OPEC members agreed last November to limit the group's oil production to 18.5 million bbl. per day in hopes of boosting prices, veteran oilmen were skeptical. Previous all-for-one pacts had crumbled when members secretly exceeded their quotas. This time producers are still cheating, but considerably less than most experts had expected. Oil-industry analysts estimate that OPEC is producing just 1 million bbl. per day more than the quota. As a result, OPEC's relative restraint is sparking a rally in the oil markets. The price of West Texas intermediate, a benchmark crude, reached...
...their high academic performance. "People say they're too motivated," explains a student. "Especially in the sciences, whites are insecure." Such fears may even have tainted the admissions process: last fall the Department of Education launched an inquiry to determine whether Harvard and UCLA had set illegal quotas to limit Asian students...
...followed. And followed. And followed. Through the San Fernando Valley, Los Angeles, Orange, Riverside and San Diego counties. For four hours and more than 150 miles, tag teams of highway patrol cars and a Los Angeles police helicopter tailed the VW, which never exceeded the 55-m.p.h. speed limit, until driver Brett Barish finally ran out of gas near San Diego...
...also asked House and Senate leaders to join him in early budget talks. Bush's designated budget director, Richard Darman, has discussed with Republican leaders the idea of dividing the budget into five to 20 categories, such as "national security" and "health care," and putting an overall spending limit on each. Added together, the reductions would slice the deficit to $100 billion. It would be up to Congress to fill in the blanks by deciding which programs in each category would have to be slashed to meet the overall target...