Word: spiralling
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Dates: during 1980-1989
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...expected to cost about $75 billion, or 9.5% of all federal spending. And in five years, according to the Congressional Budget Office, that price tag is expected to climb 87%, to $142 billion, a rate twice that of all other federal spending. The chief causes of this upward spiral are longer life expectancies for Americans and medical-care costs that are rising 11% a year, nearly three times the rate of the Consumer Price Index...
Meese said Reagan's success in reducing federal spending and curtailing the inflationary spiral caused by previous administrations put him in a strong position for a 1984 candidacy...
...first hint of astronomy among the Southwest's original settlers had come a few years earlier when Artist Anna Sofaer was photographing spiral petroglyphs in New Mexico's Chaco Canyon, once the center of a flourishing Indian civilization. The carvings had been left by the area's former inhabitants, the Anasazi. For hundreds of years they lived in the canyon, creating astonishing multistoried cliff dwellings, only to vanish mysteriously at the start of the 14th century. Sofaer, visiting the site around the time of the summer solstice, noticed that a beam of sunlight sliced right through...
...machine tools. Inevitably, those American manufacturers would produce more expensive, or less modern, products. Their competitiveness would suffer. They would lose sales both in the U.S. and abroad. Then those manufacturers would also be traveling to Capitol Hill to demand protection against "unfair" foreign competition. That kind of protectionist spiral could suck the U.S. economy, and that of the entire free world, toward long-term stagnation and depression...
...figure loomed larger over the world economy in 1982 than that of the 6-ft. 7-in. cigar-smoking chairman of the U.S. Federal Reserve Board, Paul A. Volcker. It was he who fought unflinchingly to bring down the U.S. consumer price spiral, but in the process he helped drive interest rates and unemployment up throughout the industrialized societies. In the U.S., his policies surprised skeptics by limiting the rise in the nation's consumer price index to roughly 5% in 1982, but his policies also helped push unemployment stunningly into double digits. By year's end joblessness was closing...