Word: one-year
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...trouble was both more predictable and more serious. The Democrats last week produced what amounts to a full counterbudget. Its politically appealing main elements: spending reductions that the Democrats say would slightly exceed Reagan's but give more money to social programs and less to defense; and a one-year tax cut some $14 billion smaller and much less sweeping than the President's. The promised results: a deficit in fiscal 1982 only about half the size of the one that Reagan's plan might produce; and a balanced budget by fiscal 1983, a year ahead...
...across-the-board tax cuts, and the assurance that they will continue into the future, will give all sectors of the population the incentive to work, save and invest. Says Assistant Treasury Secretary Paul Craig Roberts: "You simply don't generate sufficient long-term confidence with any one-year plan. What you're saying is that you don't really believe in cutting taxes or in the plan itself. Business won't invest on that basis...
...only two American women's victories. with Darlene Beckford copping the 800 in 2:11--four seconds off her Harvard record--and Mary Herlihy winning the mile in 4:58. For Herlihy, the victory represents a propitious omen since it came in her first outdoor race after a one-year layoff...
...energy outlays, for example, while restoring $7 billion of cuts that Reagan wants in such programs as Medicaid, food stamps and child nutrition. On the tax side, the Democrats reject Reagan's threeyear, across-the-board slash in income tax rates in favor of a much narrower one-year reduction. The Administration's ability to counter this effort may be hampered by the enforced scrapping of Reagan's personal selling campaign for his program. The President had been sched uled to speak almost weekly to state legislatures to plug his economic package...
...conflict of interest count carries a maximum one-year prison term. The larceny by a public official charge, a felony, carries a maximum sentence of ten years...