Word: outlook
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Dates: during 1970-1979
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...White House officially maintains that the 1980 deficit will be about $30 billion, some of TIME'S economists expect it to approach $50 billion. The problem will continue into fiscal 1981, which begins next October. Says Joseph Pechman of the Brookings Institution: "It is a very dismal budget outlook, and there is going to be a real fight. I don't think Carter can get spending much below $610 billion and, even at that, he has got to be tight on everything...
...outlook is clouded for OPEC itself, especially for the so-called dollar-surplus states of Saudi Arabia, Kuwait, the Emirates and Qatar, which together hold more than $90 billion in U.S. dollars and other U.S. financial assets that will continue to slip in value as the cartel's prices climb. These surplus states probably will not go along with any effort to dump the dollar as the currency of the world oil trade, a move that would undermine the value of the greenbacks they already hold. But Iran and Libya are urging OPEC to switch from dollars...
...alignment seems likely to emerge in Caracas: a loose coalition among Saudi Arabia, Iraq and Kuwait, the Persian Gulfs three biggest Arab producers, which now dominate the Persian Gulf trade as Iran sinks deeper into internal chaos. Instead of moderate price increases, higher production and cooperation with Washington, the outlook for the cartel as a whole seems to be for substantially higher prices, tighter supplies and increasing disinterest in whatever the U.S. seeks...
Politically, Iowa is a fairly progressive state, closer in outlook to liberal Minnesota and Wisconsin than conservative Kansas or Indiana. Even so, the Register is a couple of steps to the left of Iowa opinion. Says Editorial Page Editor Gil Cranberg: "If I hated the paper as much as some of our letter writers do, I don't know why I would buy it." The paper favors abortion on demand, gun control and SALT II. It strongly supports Governor Ray, a moderate Republican, and pushed hard last year for the re-election of Senator Dick Clark, a liberal Democrat...
...deal seemed all set when Treasury Secretary G. William Miller declared early in November that the Administration was, after all, prepared to back a $1.5 billion rescue fund for Chrysler. But now the outlook is a lot less sure. Opposition to Government aid is gaining ground, not only in Congress but also among the company's own bankers...