Word: national
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Dates: during 1970-1979
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...projected increases are expected to raise the nation's oil import bill from about $62 billion this year to more than $83 billion, representing a rise in fuel costs of $80 for every American citizen. The increase, said Energy Secretary Charles Duncan, could add from 4? to 8? to the retail price of a gallon of gasoline in the coming weeks, and 3? to 7? to the cost of home heating oil, a major expense for consumers in the import-dependent Northeast. Several of the largest oil companies, including Exxon, Mobil, Chevron and Texaco, last week announced wholesale gasoline...
...glum set of figures on the Caracas spinoff: consumer prices will climb by 1% more than they would otherwise have during 1980, and some 250,000 more workers will lose jobs. U.S. economic output will be shaved by some $17 billion, while $10 billion will be added to the nation's balance of payments deficit...
...expects that, in all, taxes will be cut by about $30 billion, including a reduction of some $10 billion for business, probably in the form of liberalized depreciation. Though such a move would increase the deficit at first, it would soon after pay dividends. By helping to sharpen the nation's efficiency, it would combat many of the problems that the U.S. economy encountered in a year of troubled change...
...growth prospects evaporated largely because many industries became increasingly outmoded and continued to lose their edge in global competition. America was living off its accumulated capital stock, a consequence of its people's unwillingness or inability to save and invest. While the U.S. spent scarcely 10% of its national income on new factories, mines, tools and transportation systems, its allies and competitors the West Germans and the Japanese were investing 15% and 16.2%, respectively, of their incomes in such capital goods. One result: U.S. productivity, which had risen an average 3% a year in the 1960s, declined by more...
...months later, in the most celebrated decision of his career, he ruled against the Government in its attempt to suppress the publication of the Pentagon papers, a highly classified report detailing U.S. involvement in Viet Nam. Its publication, wrote Gurfein, "would [not] vitally affect the security of the nation, except in the general framework of embarrassment. A cantankerous press must be suffered by those in authority in order to preserve freedom of expression and the right of the people to know...