Word: surpluses
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Meantime, Transportation Secretary Drew Lewis' idea to hike gas taxes 5? per gal. to repair highways and bridges was making progress in Congress. And Reagan threw his weight behind the notion, hatched in the Department of Agriculture, of using surplus grain as a payment for not producing new grain...
...recession. Sometimes considered immune to economic woes, the nation's most populous state suffered an 11.2% unemployment rate in October, close to half a point higher than the national average in November. In 1978 the Golden State sunned itself in the warmth of a $3.7 billion state budget surplus, but now it is projected to be more than $ 1 billion in the red before the fiscal year ends on June 30. Last month California had to take out $400 million in bank loans just to pay ongoing bills, and has ceased selling state bonds for fear of eroding...
...passed in 1978 that limits local property taxes, forced the state government to bail out towns, counties and school districts suddenly strapped for cash. The state is also doling out welfare checks to 2,233,507 Californians this year. The result: replacement of the state's once hefty surplus with a budget deficit estimated at between $1 billion and $1.8 billion for fiscal...
This weekend, when the ministers of the world's least loved cartel gather in Vienna, the session is apt to be the stormiest ever. The members are poorer than they once were; oil exports lifted the current account balance of the OPEC nations to a record $109 billion surplus in 1980, but this year there will be a deficit, estimated at more than $15 billion. The delegates must face the painful fact that they can no longer control both prices and production at high levels, a nettlesome problem because OPEC members have shown little inclination to live with production...
Harvard ran a small surplus in the fiscal year ending June 30, 1982, overcoming a poor investment climate, a stagnant economy, and a drop in federal support for student aid and research, the University's annual financial report showed...