Word: surpluses
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...Dick Armey patted each other on the back for the cameras -- the budget deal is finally done, and, after legislative aides spend their weekend proofreading the bill, it will come before the House for a vote Tuesday afternoon. "Mr. and Mrs. America," boomed a suddenly populist Armey, "your surplus is intact." That was more than could be said for the Republicans' self-esteem. Although the majority party could claim a few victories, most of the spoils of these tedious negotiations have gone to the side that was supposed to be in the most trouble: the White House...
With high earnings, surplus money accumulates easily, and many people think that savings are incidental. But practically nothing beyond a hand-to-mouth existence can be maintained without profitably invested savings. So even the desperate remedy of having artificially low interest rates to stimulate business in Asia and elsewhere is bound to fail unless accompanied by adequate voluntary or compulsory savings plans in which money is invested prudently. Excessive investment on credit in risky projects needs to be curbed. People should invest in such ideas only if they can carry the loss of the investment. JENS MEDER Auckland, New Zealand...
...billion Amount Clinton announced as this year's budget surplus, the first surplus since...
WASHINGTON: When Bill Clinton unveiled that "surplus clock" last week, he gleefully recalled all the bad-mouthing America took from Europe in the '80s for holding back the world economy with high deficits. But the transatlantic sniping has started again -- this time for saving too much. "Running a surplus right now could be inappropriate," says TIME business reporter Bernard Baumohl. "When the U.S. and world economy is slowing, tax cuts could help stimulate domestic growth and make sure the U.S. is still a good market for Asian and Latin American exports...
...With relentless self-promotion, Clinton has managed to put his face on this surplus, as well as on the economic boom," says TIME deputy Washington bureau chief Jef McAllister. "Despite what Republicans say, he'll probably get the credit." Early reports from the Hill also suggest that the face-off between Republican proposals for a broad income-tax cut and Clinton's mantra of "save Social Security first" is tipping in the President's favor. "If we squander this surplus," Clinton said Wednesday, "what are we going to do when times get tough?" Just keep talking about the economy, stupid...