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That is one of the most durable and emotional questions in American political debate. As inflation has soared close to double-digit rates, with no war or speculative boom or oil shortage to blame it on, deficit spending has come to be viewed as the fiscal mortal sin leading inexorably to inflationary damnation. The legislatures of 22 states have called for a constitutional amendment that would require a balanced budget every year. Amendment or not, that would be impossible, since no Administration could predict future revenues and expenditures accurately enough. It is also undesirable. There are circumstances in which...

Author: /time Magazine | Title: Time Essay: Why Deficits Really Matter | 1/29/1979 | See Source »

...campaign. For the long term, the Administration tends to favor the idea of a transition to constitutional monarchy in Iran, with the Shah retaining a unifying, if largely symbolic role. But right now the Administration is refraining from making suggestions; it realizes at last that the Shah is in mortal danger and has his hands full just trying to maintain order...

Author: /time Magazine | Title: IRAN: The Weekend of Crisis | 12/18/1978 | See Source »

...modern excess can match the monumental efforts of our forbears. I probably wouldn't be hard for most of us to put ourselves out for the court by doing mortal damage to a couple of geese or an eighth of a cow, but even our Victorian friends would turn their noses up at such paltry quantities of grub. And to get a true idea of the real spirit of Christmas, (or any holiday for that matter) you've got to go further back, back to times when eating was a full time occupation...

Author: By Tom M. Levenson, | Title: If You Think Your Mama Can Cook | 12/8/1978 | See Source »

August brought a sickness. No one could be sure--maybe it was Hobson's elbow, maybe Evans's eyes. Or Lee's mouth. Or Zimmer's head. No one knew, but it soon became clear that these gods were mortal, after all, and that perhaps the Yankees--Billy Martin or no--were not. the Boomer would whiff with two men on, and all of a sudden the news became more noticeable. Weeks before Yaz's foul pop settled into Nettles's glove, the fantasy had ended, and the real world was important again...

Author: By Francis J. Connolly, | Title: Remembrance of Things Past | 12/8/1978 | See Source »

...when John Spagnola wrestled Pat O'Brien's wing-and-a-prayer aerial from the hands of Harvard's Fred Cordova, the very sou! of Crimson football winced at the mortal wound. Cordova dropped to the turf in a heap, unable to move under the weight of the crushing frustration...

Author: By Mark D. Director, | Title: The Game: Not Quite Enough Is Common Theme | 11/20/1978 | See Source »

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