Word: slashings
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...nation." Today, however, the banks are struggling for breath along with the rest of that country's ailing economy. A bizarre financial crisis, triggered by last year's devaluation of the shekel, has shattered public confidence in Israel's lenders and forced them to slash services. With annual inflation running into three digits (190.7% in 1983), Israelis are accustomed to speculating on the government's frequent devaluations...
...know that the days of the Marine contingent in Lebanon are numbered. "In a few months, if the trends seem positive, then that will be the time we can say O.K., now we can leave in good conscience," says a State Department official. If, on the other hand, another slash of violence bloodies the Marines, the men could be home in days. Jesse Jackson got one U.S. serviceman out last week. President Reagan has a much harder task: getting the other 1 ,800 out. - James Kelly...
...America's elderly poor are women. Aid to Families with Dependent Children (AFDC), the backbone of welfare, goes almost exclusively to women heads of families. Food stamps, Medicare, and some types of Social Security are predominantly consumed by poor women, often with children. The Administration's attempt to slash these programs has thus amounted unfortunately to a cut in aid to poor women. The widespread decay of the "traditional" family which actually produced this situation belies one of Reagan's (and Phyllis Shlafly's, et. al.) main objections to the ERA--that somehow it will promote further erosion of family...
...strategy, and the group seemed on the verge of disintegration. Within three weeks, a price war erupted, led by Britain and Norway, two non-OPEC producers, and Nigeria, an OPEC member. Finally in March, after a twelve-day session in London, the bickering band of OPEC ministers agreed to slash their bench-mark oil price from $34 per bbl. to $29, the first cut in the group's 23-year history...
Money is the problem. If the Community does not raise revenues, drawn mainly from retail sales taxes among member nations, or slash spending, its budget next year will not cover farm subsidies, much less long-sought social and industrial programs. But even the prospect of bankruptcy failed to move the leaders, largely because the budget crisis is linked to three intractable issues: the exorbitant costs of the agricultural program, which eats up two-thirds of available resources; Thatcher's demand for a more equitable system of member contributions; and long-promised membership for heavily agricultural Spain and Portugal, which...