Word: spiralling
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...Ruinous Spiral." Without the surcharge, the President argued in his ten-page special message, the deficit could cause "a spiral of ruinous inflation which would rob the poor, the elderly, the millions with fixed incomes; brutally higher interest rates and tight money; an unequal and unjust distribution of the cost of supporting our men in Viet Nam, and a deterioration in our balance of payments by increasing imports and decreasing exports...
There is no longer much fear that more U.S. troops would send the fragile South Vietnamese economy into an unmanageable inflationary spiral. Meanwhile the big U.S. construction projects, with their heavy demands on local labor and materials, have been leveling off. Storage facilities and a runway have been completed at Cam Ranh Bay, for example, and new docks have been put into operation along the Saigon River near the capital, ending what was once a serious logistic logjam...
...Cincinnati school superintendent: "People say that Johnny can't read anymore, or Mary can't spell, or kids aren't being taught arithmetic." Voting against bigger school budgets also represents one of the few direct ways that citizens can express their anger at a seemingly endless spiral of rising taxes. Basically, says Calvin Rossi, legislative representative of the California Teachers' Association, the voters "are not saying no to the schools. They are saying no to higher property taxes. Turning down school budgets and bond issues is the only way they can register their protest...
...Already passed in the House and Long's Senate Finance Committee, the bill would restore 7% tax credits for capital investments by industry. The credits were suspended last Oct. 10 when the Administration feared the economy was heading into an inflationary spiral...
From coast to coast, no major exhibit of contemporary art these days is complete without the zap of neon, the wink of a wiggle bulb, the spiral shadows of alumia or the ghostly glare of minimal fluorescence. M.I.T.'s Hayden Gallery was jumping last week with the flickering lights of Venice Biennale Prizewinner Julio Le Fare's black-and-white Pulsating Lights and other works of artists exploring light as an artistic medium. For the Los Angeles County Museum's forthcoming "American Sculpture of the Sixties" show, electricians were readying Stephen Antonakos' Orange Vertical Floor Neon...