Word: surplus
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...ring these days. For most of the past two decades, America's biggest worry has been inflation brought on by excessive demand. Inflation soared into double digits in the 1970s, budget deficits ballooned in the '80s, and now a Democratic President congratulates himself for a budget surplus that he wants to use to pay down the debt. But some 60 years ago, when 1 out of 4 adults couldn't find work, the problem was lack of demand...
...Iran, Indonesia, Nigeria and Venezuela, are in much greater need of cash than even the Saudis. "I don't like to project what is going to happen," Saudi oil czar Naimi told TIME last week. "But I believe we will be successful in coming to an agreement to reduce surplus inventory and to lift the price." If not, the princes can expect a few more Abdullahgrams...
When the council voted earlier this month to allocate that much of the infamous $40,000 budget surplus, council members said they were one step closer to building the mecca of meeting places that every student group dreams...
...Monday I was not surprised to read in The Crimson that the Undergraduate Council, after conducting a survey, had allocated the better part of its surplus $40,000 toward a new student center. The survey did not, however, consider putting any of the money into charity, where even a relatively small portion could make a difference in Cambridge and the Boston area. A small expenditure such as buying an inner-city school a computer or helping out a soup kitchen would count and might show a different side of Harvard kids to the community...
Having already agreed to Clinton's insistence that 62% of each year's budget surplus be set aside for Social Security, many G.O.P. members fear that pushing an across-the-board income-tax cut could lead to disaster as Democrats bash them for favoring the rich (who would benefit most from such a cut). So moderates have lined up behind a far less ambitious package of targeted, Clinton-style tax breaks crafted by Connecticut's Nancy Johnson. Senate majority leader Trent Lott, who only two weeks ago was flogging the 10% cut at a town-hall meeting in Michigan...