Word: poore
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Dates: during 1980-1989
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Around the world the U.S. is confronted by the plight of poor but friendly countries that have borrowed heavily and spent unwisely. A traditional American approach has been to make new loans so that the debtors can repay old ones. Debt forgiveness, by any name, has always been anathema, since most of the borrowed money comes from private banks whose directors and shareholders are not in the forgiveness business...
Herbert traces the elements of a story that, at least in Peary's case, approach tragedy. He was a poor boy from Maine, trained as a civil engineer and desperate, Herbert argues, to pile up successes for his widowed mother to admire. "I must have fame," he wrote...
...most compelling objection raised by critics of state lotteries is their regressive nature. Poor people spend a larger percentage of their income on lotteries, partly in the hope of striking it rich and climbing out of their desperate situations...
...state-sponsored football wagering system, however, would not change greatly the economic standing of the poor. Many poor people, and wealthier people, already use betting cards to gamble illegally on football games, and Galvin has estimated that football betting makes up 75 percent of all illegal sports gambling...
Instituting such a program would simply allow Massachusetts to take the money that currently ends up in the hands of organized crime, which supports most of the illegal gambling around the country. This money could be spent on services like education and health care for the poor...