Word: slowdown
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Other than that debate, Schlesinger will probably encounter little opposition to his budget from Congress. Its members are too preoccupied by Watergate, too worried about an economic slowdown and too apprehensive about the Russian advances in rocketry to make much of a fight. Even Democratic Representative Patricia Schroeder of Colorado, who has been a consistent critic of Pentagon spending, predicts: "The budget will come barreling through...
...sides. For Heath, determined to preserve his anti-inflationary wage guidelines against the miners' demands for what the government claims is a 30% pay boost, it has meant a series of unpopular emergency measures, including a compulsory three-day work week, power cuts, rising unemployment and an economic slowdown. For the miners it has meant an unhappy choice between giving in to the government or digging in for a long, crippling siege that will bring irreparable wage losses and national chaos...
Meanwhile, traffic is expected to falter if a further economic slowdown leads to lower corporate profits, higher unemployment and reduced discretionary income. Airline Analyst John Laporte of Wall Street's Pershing & Co. foresees passengers deserting the lines because of the "inconvenience factor" of limited schedules. Laporte forecasts that, compared with 1973, traffic will show no gain this year and may even drop as much as 5%. Many other analysts echo the prediction of United President Edward Carlson, who expects "zero growth" for the industry this year. Average profits probably will run to a slim 4% on investment...
...offered an impromptu rendition of Oh Dear, What Can the Matter Be? For Londoners who paused to listen in the rain, it seemed like a good question. As the nation suffered through its second three-day work week, decreed by the government because of a coal miners' slowdown, Britons swapped opinions about darkened streets, frigid flats, gutted paychecks-and ways to endure the energy shortage...
...outlook. In trying to gauge prospects for 1974, most economists admit to playing a kind of blindman's buff. The biggest imponderable is the extent of the damage likely to result from the energy crisis, which is sure to bring something that economists have no experience charting: a slowdown caused not by lack of demand but by shortage of supply...