Word: slowdown
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...Slowdowns. Over the past few weeks, the air-traffic controllers have been staging slowdowns at selected airports. Hardest hit: Pittsburgh, New York City's La Guardia and Kennedy, Newark, Los Angeles and San Francisco. The controllers, who are entitled to eight free "familiarization" flights yearly on domestic airlines, wanted one "fam flight" on U.S. international carriers. Northwest, Pan Am and TWA are resisting on the grounds that U.S. controllers do not direct landings abroad. Late last week, pressure from a federal court persuaded controllers to end the slowdown, at least temporarily, but the issue of free flights remains unresolved...
...leaders have been giving him for several weeks: his proposed tax cut of about $25 billion is too large. In December, when he first proposed a cut of that size, Administration economists figured that it was needed to stimulate profits, investment and employment, and thus head off a business slowdown forecast for the second half of the year. Since then, inflation has picked up speed, to an annual rate of 9.2% during the first quarter of the year. Observed Charles Schultze, Carter's chief economic adviser: "Economic conditions change, and we would be idiots not to change...
...SPOKEN HERE. Saudis complain that the Egyptian and Pakistani workers are responsible for the increase in burglary in a country that boasts one of the lowest crime rates in the world (in part, because thieves are punished by having their hands cut off). On occasion, Yemenites have gone on slowdown strikes, while Filipinos, Pakistanis and Koreans have demonstrated to protest poor housing or low wages; some have been deported...
...With new jobs being created at a hectic pace, and production, consumer sales and capital spending all quickening, business should move ahead fast through the spring and summer. But it will begin to falter in the autumn and probably remain sluggish for much of 1979. The extent of the slowdown will depend on many, factors, notably Jimmy Carter's success-or failure-in fighting inflation. That is the forecast of TIME'S Board of Economists, which met last week...
...today's surge will help to cause tomorrow's slowdown. Because companies are demanding more credit, interest rates will continue to rise. So will mortgage rates, leading later this year to a slowdown in housing construction. Consumers are building up such heavy debts that they will have to start paying them back in several months. In response to the fall-off in consumer spending, business spending for new plant and equipment will also slacken...