Word: shrinking
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...continue. Jason Benderley, a senior economist at the Goldman, Sachs investment firm, predicts that if the dollar stays at its current level, overseas shipments could grow by as much as 15% a year through 1991. If imports level off or decline, the trade deficit could finally start to shrink steadily...
Babbitt, the only candidate offering a realistic plan for serious deficit reductions, is at once more fiscally conservative than Ronald Reagan and more rigorously progressive than Walter Mondale. Babbitt proposes to shrink the Federal Government to a size Americans are willing to pay for out of pocket: without borrowing, driving up interest rates and choking the economy. He would accomplish this mainly by "needs-testing" social spending so that more goes to the poor rather than to the upper and middle classes, who now consume nearly a third of the federal budget. He would, for example, raise taxes on Social...
Harvard hockey Coach Bill Cleary '56 may have graduated from Harvard with and economics degree, but he's playing rink shrink...
...first half of 1988. While that is a definite slowdown, it is not quite a dead halt. A few economists, however, predict a recession. Among them is Irwin Kellner, chief economist for Manufacturers Hanover, the New York City banking company, who thinks the U.S. economy will shrink by 2% in the first half of 1988 before quickly recovering...
...earlier. Yet the real ballooning of the deficit to dangerous levels ($220.7 billion by fiscal 1986) was triggered during the early Reagan years, when the Administration tried to cut taxes and boost defense spending at the same time. According to Reagan's true believers, the deficits were supposed to shrink as a result of the tax cut. By stimulating the economy's so-called supply side, the cuts were expected to encourage work and investment so that Government revenues would actually rise rather than fall. Thus was born Reaganomics...