Word: pump
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Dates: during 1970-1979
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...HEARTY. The metabolism works overtime when the body is exposed to cold. As the human's heat pump, the body has to be fueled-with food. In Maine logging camps, a typical meal consists of vegetable soup, baked beans, bread and jam, macaroni and cheese, ground-beef casserole, pancakes, spaghetti and meatballs, beef stew, fresh baking-powder biscuits, in no particular order. Somewhat more delicately, Julia Child girds for winter with bean soup, enriched with leftover beef or lamb stew or whatever, and home-baked bread. And long johns...
...much pleasing anybody. So it is with Jimmy Carter's economic program-an amalgam of quick tax rebates for individuals, permanent though much smaller tax cuts for low-income people and corporations, a speedup in public works and other job-creating programs for the unemployed, all calculated to pump $12 billion to $16 billion into the lagging economy this year, a similar amount in fiscal 1978. As comment rolled in last week from economists, businessmen, labor leaders and politicians, the predominant tone was one of disappointment...
...July 1. But the Saudis, backed by the United Arab Emirates, announced that they would post only a 5% increase for the whole year. Moreover, Saudi Oil Minister Ahmed Zaki Yamani declared that Saudi Arabia would lift its self-imposed production limit of 8.5 million bbl. a day and pump out as much oil as the world market would take (the country can now produce 11.8 million bbl. daily). That was a clear attempt to undermine the higher prices decreed by its OPEC partners, and the cocky Sheik Yamani told Western newsmen, "I don't believe the 10% increase...
...worry that, in grappling with this and other economic problems, Carter and his advisers will focus too much attention on 1977, too little on what follows. A stimulus of any kind takes time to filter through the economy and become effective. The job, says Otto Eckstein, is not to pump up the 1977 figures as much as possible but "to create an underpinning for business and households for a better four years." The coming year, however, is the time when a speedup must at least begin...
...Presidents-a none-too-subtle indication that he believes each President should have a chairman who is philosophically compatible. But Carter cannot appoint a new chairman to succeed Burns until January 1978, and he knows that his plans for economic expansion will fail unless Burns and the board pump enough money into the banking system...