Word: stimuli
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Dates: during 1970-1979
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...expanding the country's economy is not easy. Consumer markets are already highly-developed, and West Germany's thrifty burghers have one of the industrial world's highest savings rates (15% of net income, or about three times the U.S. figure). As a result, fiscal stimuli such as tax cuts do not mean ringing cash registers at department stores but increased deposits in family bank accounts. It is a cycle that must be broken if the West German economy is to lead the rest of Europe out of its current doldrums...
...even more fully. Says Gabriel Hauge, chairman of New York's Manufacturers Hanover Trust Co.: "The key to a long life for this expansion is a sustainable pace, and to that end policymakers must resist the temptation to speed up the expansion by sharply intensifying monetary and fiscal stimuli. Continuing the tenure of the present chairman of the Federal Reserve Board would be a wise move by President Carter...
...WELFARE AND JOB PROGRAMS do not an urban policy make. Moreover, the bombedout World War II look of the South Bronx and limits their ability to help urban areas. indirectly by attacking poverty and other sources of urban decay. Welfare and employment stimuli will prove regenerative for the cities only in the long term. In the short run, the tendency of these programs to focus on people at the expense of their physical surroundings and the delivery of services limits it ability to help urban areas...
...plutocrats interviewed by TIME is a gourmet, a connoisseur, a collector of fine furniture, old wine or (for the most part) new lovers-though they do tend to like fancy cars. Their relative austerity suggests not only that they are very busy-which they are-but also that the stimuli and rewards of new wealth lie less in the realization of flamboyant fantasies than in professional prestige and financial security (not a few of TIME'S subjects grew up in poverty). Many simply bank their booty...
With tax-cut and spending stimuli, the economy is expected to grow in 1977 at a moderate rate of just under 5%, moving up to a fairly brisk 6% or so in the latter part of the year. At that pace, unemployment would drop from the current 8.1% to just under 7% at year's end. That would still be far above Carter's ultimate goal?he hopes to cut unemployment to 6½% in 1977 and to 4½% by 1980. But the economy would certainly be moving fairly well and starting to generate the extra tax revenues that Carter says...