Word: rapid
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Over broiled steak for three, and a hamburger for Dole, the quartet got down to business. Dole ran down the items that must be decided: size of the overall revenue cut, number of years over which the cuts should be spread, proposals for more rapid depreciation of plant and equipment for business, reduction of the "marriage penalty" against working couples. Long, a master of backroom consensus on tax bills, noted that there was already a general agreement on many of these items in the Senate committee. "Bob Dole and I are on the same track," he said to the House...
...cool breezes, the Pacific surf still spills across powdery white beaches, and the scent of lei still perfumes the air. Yet amid its travel-brochure lushness, Hawaii is struggling to cope with a surge in crime, a slump in tourism and the social strains caused by two decades of rapid growth. Laments Honolulu Mayor Eileen Anderson: "We've lost the feeling of 'Aloha' for one another...
...weather was favorable in many parts of the country this winter, and this helped spur buying from late 1980 into January and February. At the same time, businessmen sought to halt the rapid decline in inventories that occurred in the final months of 1980. The resulting increase in production, outside of autos, accounted for almost half of the first quarter surge. Concluded Charles Schultze, President Carter's chief economic adviser: "This economy is a lot more resilient in the face of higher interest rates than we ever thought...
Reaganomics and rapid money growth give Wall Street the jitters...
Despite last week's renewed concern that the rapid money growth would set off new inflation, the battle against high prices is, almost surprisingly, going better than expected. Thanks largely to the small glut of world oil supplies, consumer prices are beginning to slow down. The basic underlying rate of rise for consumer prices remains at about 10%, but the level of inflation for the first quarter dropped to an annual rate of 9.6% from 13.2% in the final quarter of 1980. The Bureau of Labor Statistics reported that the Producer Price Index for April, a precursor of consumer...