Word: slump
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This clamor for a tax cut is probably, to use Carter-speak, "irresponsible." But given the depth of the current slump, and the fact that the economy faces a substantial tax increase next year-- in the form of social security payments, windfall profits payments and the effect of higher tax brackets caused by inflation--it seems reasonable to try the limited tax slash plan recently defeated in the House. As higher production costs and increasing uncertainty continue to stunt incentive in the industrial sector, it may prove necessary to counter the recessionary trend with some sort...
...NHTSA orders a recall, Ford, already reeling from the auto sales slump, is expected to fight. It could challenge the order in court. Or it could propose a compromise, such as installing a warning light or buzzer to warn drivers when the transmission is not fully locked into park. Even that could cost, says Ford, more than $300 million...
...recent months Soviet leaders have had a hard time pretending they were moving. After more than half a century of often spectacular progress in building heavy industry, the Soviet economy has slipped into a serious slump. While growth zipped along at 5.3% annually from 1966 to 1970 and was a strong 7.2% as late as 1973, it fell to an almost invisible .7% last year. Steel production, always regarded as a major sign of a healthy Soviet economy, declined by 1.6% last year - the first drop since World...
...have been stranded on third for many years now. But no matter where you come from, it's impossible to dislike a team which fields Yaz, Perez, Lynn, Fisk, the incomparable Jim Rice, Rick Burleson, Butch Hobson, Jerry Remy and rifle-armed Dewey Evans, currently mired in a batting slump. And Fenway Park has a life of its own--like the hotel in Stanley Kubrick's latest flick, it "shines." Small enough to afford a good view of the action from any seat in the house. Fenway has a communal quality all too uncommon in these days of prefab stadia...
Board members are concerned that, with unemployment increasing and the economy slipping into a steeper-than-anticipated slump as the November election approaches, vote-hungry politicians will forget the fight against inflation. They fear a scramble to hold down unemployment by stimulating the economy with easy money and big new federal spending programs. The political rationale for swinging back to a policy of spend and spend is likely to seem all the more beguiling as a result of the hopeless muddle that both Carter and the Congress have made of their joint effort to produce a balanced budget for fiscal...