Word: slashed
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Dates: during 1970-1979
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...this newly unrebellious mood, the Democratic caucus readily re-elected its party leaders O'Neill, Wright and Tom Foley, chairman of the caucus. Those leaders appreciatively took this as a refreshing vote of confidence. The caucus also beat back efforts by some of the older reformist firebrands to slash the remaining powers of committee chairmen even further. There was remarkably little resistance when O'Neill asked that the one sensitive issue facing the caucus be debated and decided in private, rather than with reporters present. It was the question of what to do about four members...
...takes effect next October, to less than $30 billion. That will mean chopping as much as $18 billion out of the normal spending for programs that many people have come to take for granted. So department by department, determined Administration budget cutters are now looking everywhere for places to slash, and they are finding the slashing hard. Says an Office of Management and Budget senior official: "This has got to be one of the toughest budgets in the past 20 years...
...turning point, which forced Jimmy Carter to change his mind, came shortly after he went on television Tuesday night, Oct. 24, to announce his Stage II anti-inflation program. He not only proclaimed wage-price guidelines but also pledged to slash the U.S. budget deficit further and ease the inflationary burden of Government regulation on business. Far from steadying, the financial markets went berserk with the wildest selling spree yet, obviously because investors and speculators judged the policy to be not strong enough. The U.S. stock market tumbled into a deepening nosedive that carried the Dow industrials down 105 points...
...final weeks of the campaign, King cooled his social-issue rhetoric, promised jobs and prosperity, defended his record as Massport director, and with characteristic disregard for administrative reality, promised state workers substantial pay raises while pledging to reduce state spending enough to slash local property taxes by $500 million...
...year as President, to less than $40 billion in the current fiscal year. He pledged to cut it to "$30 billion or less" next year. As part of the effort to do so, he said he would veto any plan for any income tax cut beyond the $18.7 billion slash recently enacted by Congress, even though "tax reduction has never been more politically popular than it is today...