Word: relief
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Dates: during 1970-1979
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...from TIME in 1972: "It was serendipity-my first interview came completely unsolicited." In Washington, National Economics Correspondent John Berry put in a breathless week shuttling among meetings with various Administration advisers and policymakers. "Mine is a great beat to be on right now," says Berry. "It is a relief to see everyone's attention focused on an issue other than Watergate...
...whole group of aches and pains. There is feverish inflation, constriction of credit and throbbingly high interest rates. The stock market has scarcely been so shaky since 1929. Just about everybody who buys, sells, borrows or invests has that overall feeling of unease. And there is no fast, fast relief in sight...
...recession; credit controls to channel more loan money to home builders and buyers and small businesses, less to speculators; a huge Government program to hire the unemployed for public-service jobs; tax cuts of $6 billion to $8 billion to give medium-and low-income families some relief from the ravages that inflation has wrought on their paychecks, offset by the plugging of "loopholes" that favor oil companies and the rich...
Solberg could be described as a post-revisionist. He well recalls the sigh of relief when American soldiers came home in 1945. The U.S. had, he contends, two deep-seated fears: another Great Depression and another sneak attack like Pearl Harbor. Then came the shocking news that "Uncle Joe" Stalin's Russia was a lot more like Adolf Hitler's Germany than it ought to have been. Sound and statesmanlike steps were taken, among them the Marshall Plan. So were some domestically dangerous ripostes to Russian provocations, like the 1948 passage of a peacetime draft. Thereafter, fear...
Officially, the President pronounced himself "encouraged" by GM's mini-rollback. "I am confident," he said, "that this action will be but one of many examples of restraint by management and labor." Unofficially, Ford's economic advisers breathed a sigh of relief. In their view, the Chief Executive had taken an uncalculated, ill-informed risk that unnecessarily put his prestige on the line when the nation's economic woes could least afford a blow to the new Administration's credibility. It is clear that GM recanted mainly to get the new President off the hook...