Word: slashings
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...themselves, the conservation programs would hold oil imports in 1985 to 8.2 million bbl. a day. Combined with the accelerated supply option, they would slash imports to 3 million bbl. daily, or less than half the current level -and this at a $7 average price. Moreover, only half the imports would come from "insecure" (meaning Arab) sources. If policymakers decided that the nation could tolerate a higher level of imports, they could work out some mix of supply and conservation programs rather than go all-out in either direction...
Among other things, they voted to slash retiring Republican Governor Ronald Reagan's pension from $32,800 to less than...
...outlines of Ford's program are clear enough. The goal of goals will be to reduce inflation; if that can be done, the President says, "most of our other domestic problems can be solved." The chief strategy will be to slash federal spending and let the Federal Reserve keep a relatively tight lid on money and credit growth, at the risk of turning the threat of recession into an actuality. But there will be special help to ease hardship, in the form of programs to aid housing, the cash-strapped utilities industry and, most important, the people thrown...
...disappointment over reductions of $5.1 billion in military authorizations and $720 million in foreign aid proposed by Senate committees. On the other hand, after the House narrowly passed a bill providing $20.4 billion in federal aid to mass transit over the next six years, Ford urged amendments that would slash the total to $11 billion (congressional Democrats are proposing to meet him halfway by cutting the bill to $15.8 billion). Ford is expected to veto another measure, already passed by Congress, that raises education benefits for veterans, and to ask the lawmakers to repass the bill after several hundred million...
...Organization of Petroleum Exporting Countries, most of which are eager for yet another boost. Algeria and Venezuela are considering cutting back production in an attempt to keep prices at their current levels. In Kuwait, the government recently beat back an attempt by some members of Parliament to slash daily output to 1.5 million bbl. from 2.5 million...