Word: slashes
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Dates: during 1980-1989
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...package of tax increases in 1982, partly because it initially included the withholding of taxes on savings-account interest and stock dividends. She voted against many of Reagan's spending cuts in social programs. This year she supported a black caucus budget proposal calling for a $203 billion slash in military spending over three years coupled with a $99 billion hike in social spending. Although she explained that she considered the military cuts excessive, she supported the package because of her interest in restoring funds for programs helping the poor, the elderly and children...
Perhaps the most serious problem with import restrictions is that they treat the symptoms of America's economic ills without getting at the cause: high interest rates. The best thing the Government could do for U.S. industry would be to slash the federal budget deficit, which threatens to top $200 billion. That would reduce upward pressure on interest rates and allow the value of the dollar to drift down to a more moderate level. Congress last week passed legislation to cut the deficit by $63 billion over three years, but that is only a feeble first step toward easing...
Some conservative Congressmen have rallied around the new plan, which officials from the Agency for International Development have calculated could slash U.S. aid to family-planning programs by as much as half, to $120 million a year. State Department officials fear that the proposal could lead to sharp and embarrassing attacks on the U.S. at the Mexico City conference and further diplomatic setbacks in America's uneasy relations with China and India...
...plan to begin immediate steps that would balance the budget by 1989. It would carve nearly $50 billion out of domestic spending, partly by imposing a one-year freeze on cost of living adjustments in all federal benefit programs except those aimed at the poor. The proposal would also slash defense spending by almost $50 billion, mainly by canceling a number of weapons systems, chiefly the B-1 bomber and the MX missile...
...expensive proposition. Ma Bell has long claimed that it was levying high rates on long-distance service as a way of keeping down the cost of local calls. Last week the Federal Communications Commission took a giant step toward rearranging that system by ordering AT&T to slash long-distance rates by 6.1% beginning May 25. The move could save American consumers up to $1.8 billion a year...