Word: paring
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With most of the maps that are published in TIME week by week, says Holmes, the staff's challenge is to "pare things down." The battle map provided a welcome opportunity to do the opposite. "We decided to put in lots of information and let people spend some time with it. It was very nice to know that people wanted our services...
Many corporations have dreamed up creative means to pare down their debt. Vail Associates, the Colorado ski-resort operators, paid down part of its interest expenses in free ski passes rather than cash. And FPA, a Pennsylvania real estate developer, retired $19 million in junk-bond debt by giving its creditors raw land that it owned...
...Democrats joined 23 Republicans in approving a plan, favored by the Administration, that would pare projected Medicare spending by $51.6 billion over five years, raise taxes on gasoline, liquor and cigarettes and leave income tax rates unchanged. A House-Senate conference committee then set to work ironing out the glaring differences between the two proposals by Oct. 24, when a short-term resolution to keep the government running expires. The Democrats predict that the final plan will probably contain a gas tax increase, combined with an increase in the top marginal tax rate to 31%. Fearing the cost of continued...
...times it seemed that the only consensus was on the need to pare $50 billion from the deficit in fiscal 1991, which begins this week, and $500 billion over five years. Achieving those goals, however, demands distasteful medicine -- higher taxes and reduced spending -- just weeks before congressional elections. Putting added pressure on the negotiators were new statistics underscoring how badly the economy is faltering. Last week, for instance, the Commerce Department pegged economic growth in the second quarter at an anemic...
...bailout's relentless drain on the U.S. Treasury provided a grim backdrop to the stalemated budget talks. After 125 days of partisan wrangling, negotiators from both parties were nowhere near agreement last week on how to pare $50 billion from the 1991 deficit and $500 billion over the next five years. If a deal is not reached by Oct. 1, the government could face $100 billion of across-the-board budget cuts. While lawmakers contemplated legislation to avert that sweeping move, the White House threatened to veto such a measure in order to force a resolution of the budget deadlock...