Word: outlook
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Dates: during 1980-1989
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...House cannot pick itself up out of this shambles and speedily vote some sort of responsible budget plan in the next few weeks, the economic outlook will be dire. A group of six former Cabinet officers (including five Secretaries of the Treasury who had served in Democratic and Republican Administrations going back to 1961) warned early last week that "the huge budget deficits now in prospect . . . could lead to years of financial turbulence and industrial stagnation." The group, assembled by Peter G. Peterson, who was Secretary of Commerce in the Nixon Administration, proposed a one-year freeze on Social Security...
Conservative Alan Greenspan singled out those high deficits as the main cause of the present economic malaise. Said he: "Current interest rates are largely a function of long-term inflation expectations, and that, in turn, is based on the long-term budget outlook. I think that the failure of the so-called budget summit between the President and House Speaker Tip O'Neill was an expensive failure...
Opposing that outlook though is an informal group of House masters who have voiced skepticism of alternative House schemes ever since the initial disparities surfaced...
...will take more than soothing personalities to improve the grim outlook for Harvester's finances. Says Richard F. Rossi, an analyst at Merrill Lynch: "The company will not turn around just because McCardell is gone. His departure will not make the situation between the company and its creditors any different at all for the time being." The big question that remains at International Harvester is whether the bankers will give the new management enough time to try to save the firm...
...nearby Parachute, where the population had quadrupled, to 1,200, in the past year, the outlook was also bleak. Jack Ross, 42, owner of the Valley Cafe, looked over his half-empty lunch counter and grumbled, "We're going to go out of business. That's all there is to it. We won't be able to pay the electric bill after this week." In a case of remarkably unlucky timing, the new Parachute Plaza Motel opened its doors last week. The only guests were a few reporters covering the Colony closing. Town officials...