Word: multibillions
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Dates: during 1980-1989
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...budget deficits are at the core of the problem. (Even if Congress approves the tax bill and adds $21 billion in fiscal 1983 revenue, the deficit is expected to be as high as $150 billion.) "For a conservative President like me to have to put his arms around a multibillion-dollar deficit is like holding your nose and embracing a pig," the President admitted. But the way to get a grip on the "slippery" deficit, he declared, was to raise revenues. It is "the price we have had to pay" to get more spending cuts through Congress. Reagan placed...
Each morning in his office at the Pentagon, the Air Force general and his allies mapped out their strike plan. The target was not an enemy capital but Capitol Hill, and the battle was over which firm would land a multibillion-dollar contract for military cargo planes. The allies in this case were Lockheed executives working in tandem with the Pentagon to sell Congress the C-5B over its rival, Boeing's 747. In one of the fiercest and, some say, most shameless lobbying battles Congress has seen in decades, the issue of which plane was better often became...
Last week the U.S. synthetic-fuels program suffered its sharpest blow, one that could prove to be a major setback for large-scale attempts to develop energy alternatives to conventionally obtained oil. Exxon, the world's largest energy company, and the Tosco Corp. pulled out of their multibillion-dollar Colony Shale Oil Project in Colorado, effectively abandoning the most ambitious U.S. synthetic-fuel project...
...would be reassuring to think of multibillion-dollar defense contracts as a tonic for cash-starved U.S. industries. For years businessmen and the Pentagon have rightly urged Congress to take a long view in planning its defense expenditures, using multiyear procurement programs in order to ensure the steady and smooth development of new weapons systems. Unfortunately, the explosive new surge in defense spending is coming just when factories and financial markets will find it difficult to handle the strain...
Last week Eastman Kodak Co., the world's largest supplier of photographic equipment to the multibillion dollar amateur market, took a giant step toward the elimination of misbegotten pictures. The company's solution is a compact new camera called Disc. Said Modern Photography Contributing Editor David Eisendrath after trying the photo mite: "It is virtually idiot proof...