Word: recessionâ
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...past, these stimuli have come too late or been too small to do anything but add to the deficit. But that's not my gripe. My gripe is that telling Americans they need to borrow and spend just a little bit more to get us past this recession???and then reform their ways?is like telling an alcoholic he needs one more drink before sobering...
McCain has none of that going for him. The economy is not his thing. Traveling across Michigan in the days before the primary, McCain realized he had to talk about the looming recession???but he used it, more often than not, as a transition to the things he really cared about?cutting government spending and global warming. If the government weren't spending "$233 million on a bridge to nowhere in Alaska," he would say, the money could be used for retraining programs for displaced workers. If the government decided to limit carbon emissions and reduce our dependence on foreign...
...fired recession of 1974-75? The answer will not be clear even when the final gavel ends the OPEC meeting in Geneva and the economic summit in Tokyo. But the prospects are cheerless: at best, a slowdown in global growth, accompanied by more inflation; at worst, an outright recession???also accompanied by more inflation. Already, the downturn-that-might-be has picked up a name. Washington economists are calling it Khomeini's Recession???after the Ayatullah Ruhollah Khomeini, whose Iranian revolution began the oil shortages and rocketing prices that are causing world economic anxiety...
...Harris Bank, and he foresees a mild and brief one. His forecast: real G.N.P. will drop 2.4% in the third quarter next year and 3.2% in the fourth quarter, but start back up in early 1980. Alan Greenspan, formerly President Ford's chief economic adviser, also sees a recession???but not until 1980, and then so gentle that it will just about meet the technical definition: two successive quarters of declines in real G.N.P...
...Indian reservation, 26% judged it to be a wildlife preserve and 51% identified it as a brand of whisky. Most important, he speaks almost garrulously in tones of unabashed can-do optimism. The nation, he insists, can bring down its frightening rate of inflation without suffering another recession???indeed, while working toward a "model economy" in the 1980s...