Word: surpluses
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Hispanic immigrant-support groups in California are indignant about the latest U.S. attempt to seal the border with Mexico. In mid-June military reservists began placing thick steel sheets along a 14-mile stretch between Tijuana and San Diego County. The metal is surplus landing-strip material from the gulf war. Some residents on both sides find the wall offensive, but the U.S. stands firm. "The Immigration and Naturalization Service is simply trying to do what it can with a limited budget," says a U.S. embassy official...
...Charles Hurwitz took over San Francisco-based Pacific Lumber in 1986 with the help of $900 million in Drexel junk bonds, for example, First Executive Corporation, bought more than one-third of those bonds. Once in charge, Hurwitz terminated the pension plan and grabbed the $55 million worth of surplus pension funds to pay down part of his buyout debt. He then bought $38 million worth of Executive Life annuities to cover 2,500 people, thus shedding his obligations and saving himself the cost of the premiums for the federal pension insurance. Had he picked another insurer, of course, those...
With his plan, Moynihan seeks to curtail the government's spending of the surplus that resulted from a 1983 congressional overhaul of the Social Security system. Congress had called for accelerated tax rates to build up reserves for baby boomers, many of whom will begin to retire early next century. The reserves will result in an estimated surplus of $74 billion this year, $83 billion next year and $225 billion by the year 2000. Charging the government with "extortion," Moynihan claims that this "trust fund" is being improperly counted as general revenue when the federal budget is written each year...
...good news ends right there. Despite the surplus of practitioners, certain kinds of legal services are in critically short supply. Court systems at every level from the municipal to the federal suffer from prohibitive over-loads, commonly delaying resolution of legal disputes for months or even years. The problem is particularly acute among the poor. According to the Massachusetts Legal Assistance Corporation, existing legal services provide for less than one-sixth of the civil legal needs of low-income residents of the Commonwealth. Overall, low-income Massachusetts residents go without legal assistance in 60 per cent of the instances...
...America is a celebration. A celebration of American ideals, of a New World Order that we will impose, of a "team" that looks like it's probably strong enough to "kick his ass." As one T-shirt in the window of the Army-Navy Surplus store reminds us, "Don't Mess with...