Word: paye
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Dates: during 1960-1969
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...because Americans visualize them as deficiencies in physical capital-buildings that must be turndown, highways that must be built. Yet the problems that Moynihan finds most critical cost relatively little money. Their real costs are political and social, in amounts neither the Administration nor the nation are likely to pay...
...yield. William F. Butler, vice-president of the Chase Manhattan Bank, says that banks are refraining from raising their 81% prime rate on business loans only because they fear "the wrath of Congress." The prime rate is an increasingly unreliable guide to borrowing costs anyway. Growing numbers of borrowers pay as much as 10.6% interest on loans officially made at the prime rate, because banks are strictly enforcing a rule that the borrower must leave 20% of the face amount of his loan on deposit as a "compensating balance...
...sugar was 59? the day before, it's sure to be 79? on check day." Samuel Meyer, 86, a wheelchair-bound resident of Manhattan's Lower East Side slums, finds food prices up so sharply that he can no longer make his $70-a-month welfare benefits pay for a nightly soup of chicken wings and vegetables. He now makes his soup from vegetables only...
...running the papal establishment. But social unrest is growing in Italy. Anxious to align the church with the working class, the Vatican wants to escape any onus for closing inefficient plants, laying off workers or sitting on the other side of the bargaining table when unions ask for more pay...
...thousands of Gulf Coast victims of last August's Hurricane Camille. Nothing remains of the crippled Ryals' modest frame home near the beach at Gulfport, Miss., and he and his wife now live in a leased trailer on their hurricane-stripped lot. His insurance company offered to pay only 25% of his claim, says Ryals, so he has hired a lawyer to sue for more. That may take considerable time, and in the interim the lender is threatening to foreclose the mortgage that covered his lot and vanished home...