Word: slashe
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...municipal police and fire department pensions. In fiscal 1982 pensions will cost the city $238 million, or 760 for every dollar of salary. In the past, handouts from the state legislature allowed the city to meet these expenses. Thanks in part to cutbacks mandated by Proposition 13, which slashed state tax revenues, Los Angeles is facing an $80 million deficit; Bradley has already laid off 400 city workers and cut library hours and recreation services. Warns the mayor: "Unless we have a charter amendment [to slash the pension funds], the only departments we'll be able to finance...
...pleas for aid, Poland has promised to slash its imports and divert products from domestic consumption to boost exports. Those pledges will be hard to fulfill in a country where sinking living standards have generated social upheaval. Shops already stock no rice, jam or fruit, except for apples. Meat is rationed at a little over a pound per person per week. The seemingly interminable lines outside the stores are a constant source of black humor. One joke now making the rounds...
Wealthy and Republican to the foundations of their $350,000 clapboard colonials, Weston's voters gave an overwhelming 72% majority to Ronald Reagan and his economic policy of cut and slash. Now the small town (pop. 9,000) is up against a little painful cutting...
...Senate went Republican; the era of the reusable manned spacecraft began; Atlanta feared for the safety of its children. Cambridge saw the departure of its top executive, celebrated its 350th anniversary, and braced itself for drastic budget cuts due to a statewide slash in property taxes. Some of the big stories at Harvard--a proposal to restructure College governance, the establishment of a new concentration in Literature, and even the Harvard-Yale game debacle--seem trivial when compared with the national events of the past year. But rightly or not, the University has a tendency to get wrapped...
...differences in deficit estimates are crucial, because they sway judgments on how big a tax cut the nation can afford. The Administration and backers of the Gramm-Latta resolution, which includes the first stage of Reagan's cherished proposal to slash income tax rates 30% over three years, predict a deficit of $31.4 billion in fiscal 1982. No, says Jones, the red-ink figure would be $42.6 billion-whereas, under the Democrats' proposal for a more modest tax cut, the deficit would be held to $24.7 billion...