Word: rose
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Dates: during 1970-1979
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...default has probably been averted, but the crisis has worsened a situation that will slow recovery anyway. Spending by state and local governments, discounted for inflation, rose by 6% as late as 1973; this year the increase was below 2%, and in 1976 it is forecast only slightly higher. There are reasons apart from New York's agony: cities and states have been caught by recession-reduced revenues and mounting welfare costs. But the New York crisis has helped to raise interest rates on bonds for some cities to 9.2%, and deepened an anti-borrowing mood among voters...
...last time the University of California at Berkeley fielded a top-ranked football team was in 1958, when the Golden Bears went on to the Rose Bowl (and lost). Since then, the campus has been stirred up more by student rebellions than football victories. Now Chuck Muncie has changed all that. Playing with a combination of power and brains that left defenses wondering where he would strike next, the Cal tailback scored 14 touchdowns, averaged 132yds. rushing per game, and caught 37 passes for 354 yds. this season. He could well be the No. 1 draft choice of the pros...
...Gusmao went to Lisbon and demonstrated (74 years before France's Montgolfier brothers flew their balloon over Paris) a model of a balloon believed to have been used by the Indians. Filled with smoke and buoyed by hot air from glowing coals in a clay pot, the replica rose from Gusmao's hand and floated toward the palace ceiling...
...maiden flight, Condor climbed quickly, reaching an altitude of 600 ft. in 30 seconds. Then, buffeted by brisk winds, it fell back to earth and hit with a thud that bounced the two pilots out of their gondola. Free of both pilots and ballast, Condor lifted off again, rose to 1,200 ft., flew about 2% miles in 18 minutes, and then landed gently on the plain...
...hangover: liquor sales have risen 4% or less a year for the past five years, costs have soared for everything from barrels to bottle tops, and the companies have been afraid to raise whisky prices because a boost might drive customers to drink more beer and wine. Liquor prices rose only 3.6% last year. By reducing the proof, says Gerald Mooney, trade, press-and executive-relations manager of Hiram Walker, "we get what amounts to a price increase without passing that along to the consumer." Lowering the proof reduces both manufacturing costs and federal taxes...