Word: prop
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Dates: during 1970-1979
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Another symptom of the void at the top was Agriculture Secretary Earl Butz's unilateral decision two weeks ago to buy $45 million worth of beef for the Government's school-lunch program, in an attempt to prop up beef prices. Butz's decision came as a complete surprise to the COLC'S food policy committee, which is chaired by Shultz, and provoked an angry reaction from Dunlop, who has greeted recent declines in prices of grain and livestock with undisguised pleasure...
...buying enough goods and services to prop demand and prices up for a long time. Frightened by the rise in the jobless rate, governments then throw the policy into reverse and pump out enough money to initiate expansion again?at a higher base rate of price increases than prevailed at the start. These stop-go policies interrupt growth, and to make up the production losses incurred in the slow phase, governments run ever larger inflationary deficits and accelerate increases in money supply. In the U.S., the avowedly conservative Nixon presidency has piled up cumulative deficits of about $120 billion...
...doubt the Nixon administration and the Pentagon will continue to allow and tacitly encourage U.S. military personnel to help prop up illegitimate and unpopular regimes in which the American government and economic interests have large investments. Junior Cambodian officers told American reporters last week that Americans frequently advise and plan strategy for Lon Nol troops all around beseiged Phnom Penh. Such involvement will probably increase as the Khmer Rouge assault intensifies and achieves more successes like this week's capture of the former royal capital of Oudong...
With their fingers crossed, Administration economists have been counting on a continuing boom in business spending for new plants and equipment to keep a major prop under a sliding U.S.economy this year. Their hopes now seem fully justified. After surveying the spending plans of companies large and small, the Commerce Department last week reported that businessmen plan the biggest investment increases since the early days of the Viet...
...Castro at this point. For one thing, it wants his somewhat tarnished charisma to lose a little more of its luster before he is welcomed back into the family of hemisphere states. For another, it is quite content to see Moscow go on spending $1.5 million a day to prop up Castro's economically troubled regime...