Word: slashing
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Dates: during 1970-1979
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...unrealistic for the Group of 77 to expect the First World voluntarily to dismantle the existing economic order and slash the living standards of its citizens. It is even questionable whether most First World electorates would tolerate a major increase in foreign aid or whether trade unions would allow unrestricted competition for goods produced by cheap labor in developing lands. In one recent survey, Americans ranked economic aid and loans to the poor no higher than 20th on a list of 23 areas in which they would like to see their tax money spent...
...epee squad also pulled an about face with Simmons winning his second match and John Hirschfeld turning in a brilliant performance to outduel his man. Although only Bennett was able to out-slash his opponent in the third round foil bouts, the victory was in hand...
What could possibly sound more appealing? A record-breaking income tax cut of $28 billion. An equally sharp slash in Government spending. Both aimed, as President Ford said of his proposals last week, at "getting the Government off your back and out of your pocket." Insisted Treasury Secretary William Simon: "There were no political considerations in this decision whatsoever...
Although there were forecasts that Ford would ask for a tax cut balanced by a slash in spending (TIME, Oct. 13), his tax plans were one of the best kept secrets of his Administration...
...seeks to make new arrangements for paying its creditors. Though the banks that hold most of Grant's debt set no specific deadline, they agreed to go along with the company at least for the moment. Eventually, after assessing the chain's efforts to close unprofitable stores, slash expenses and improve sales, the banks could either permit Grant to continue in operation or press for the company's liquidation...