Word: siphon
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Dates: during 1960-1969
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...usual, housing will be hit first and hardest because higher interest rates elsewhere will siphon away funds normally available for mortgages. Small businessmen will feel the pinch immediately. Consumers may expect to pay more shortly for auto and appliance loans. Record bond interest rates have now soared beyond the reach of many local governments, forcing them to postpone many projects such as sewer and water lines and school buildings. New York Telephone had difficulty finding takers for a $150 million issue yielding 7.47%. New York's Consolidated Edison had to pay a record 7.9% on an issue...
Still, the stock market's major concern is how fast the Federal Reserve will tighten up the money supply in its campaign to squelch the pressures and psychology of inflation. Rising taxes will make the battle easier and will siphon funds away from investors. On Jan. 1, Social Security taxes went up by $3.6 billion a year. By April 15, taxpayers must give Washington an extra $11 billion in catch-up payments for the second quarter of 1968, when the 10% income-tax surcharge was not withheld from salaries. With a shrinking federal deficit also sucking steam from...
...indicated that he is wary of sitting down with the Russians with that episode so fresh in memory. But unless he gets down to serious talks on arms control, the danger exists that the two nations will embark on a race to build anti-ballistic-missile systems that will siphon off tens of billions of dollars from urgently needed domestic programs in both countries. Moreover, Nixon insisted during the campaign that the U.S. faces a "security gap" and must not permit the Soviets to achieve anything approaching nuclear parity. In the Brookings report, Carl Kaysen, director of Princeton...
...main thing is what they (the poor nations) can do," he stressed, "but we can help." American foreign aid is destructive, he said, because it is given in loans attached to trade agreements which siphon off the country's capital and lower the quality of its imports...
According to John Becker, president of Becker Research Corporation, a firm that has polled for Governor John A. Volpe (R-Mass.) and Senator Edward W. Brooke (R-Mass.), there is a "hidden" Wallace vote that will siphon off potential Nixon strength...