Word: surpluses
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...information for the neutron bomb and the Trident-II nuclear warhead. Commercial attaches prowling trade shows have been spotted pocketing demonstration videos of weapons systems or dipping their ties into chemical solutions on display so that secret formulas can be analyzed. Chinese agents have even gone to U.S. military-surplus sales to buy scrapped aviation hardware...
...capital markets of the U.S. are the largest and most efficient in the world. They are a miraculous engine for creating wealth. They take surplus existing wealth and--directed by no one person or institution but instead by the impersonal action of thousands of independent investors--allocate it to the most productive new-wealth creators...
...Clinton plan would consecrate most of the budget surplus over the next 15 years to Social Security, delaying its collapse from 2032 to 2055. For the first time the plan would also allow 15% of the fund to be invested in the stock market, so that some of our Social Security dollars could earn as much as those in our mutual funds. (Now invested in Treasury bonds, the money earns from 4% to 5% a year--only a bit better than shoving it under a mattress...
Clinton got the public applause he wanted: in a TIME/CNN poll last week, 61% of those surveyed said they agree with dedicating all or most of next year's surplus money to Social Security, vs. 31% who think it should be used to lower taxes. But Clinton's plan also absorbed the expected blows. Though the minority leaders in both houses endorsed the plan, other Democrats think even microscopic tinkering with the party's hallowed invention--let alone Clinton's fairly substantial changes--would be unacceptable. Many Republicans--who want to use much of the surplus for tax cuts...
...gripes to White House policy -- which is just what Clinton wanted. "The President is trying to set up the same trap as last year, which is to put the Republicans against Social Security," says TIME congressional correspondent John Dickerson. Though Dick Armey attacked the proposed budget -- "a $4 trillion surplus, and not a penny for tax cuts?" -- Wednesday morning, Dickerson says, Republicans were toning down the rhetoric, going out of their way to appear supportive of the office...