Word: surpluses
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...stopgap solution was to parcel out $5 billion of an estimated $5.8 billion surplus in state revenues to more than 6,000 local government units. The schools will get the biggest chunk of the fund, $2.2 billion. That will mean only a 10.5% overall cut in their operating cash from current levels. The relief money will be applied on a sliding scale so districts that have long had less money for schools will get the most. This will help meet a California Supreme Court decision that support of schools should be equalized...
...diminishing expectations is the increasing annoyance of the U.S. and Europe with the country's policy of saturating world markets with its goods, while tightly controlling access to its home market-the third largest after the U.S. and the Soviet Union. The result: Japan piled up a trade surplus of $17.3 billion last year, $8.1 billion of it with the U.S. alone...
...been working. Exports to the American market alone jumped by 35% in May. Japan's Economic Planning Agency conceded that the nation will ship out $23 billion more in goods than it will bring in this year, and in the process pile up a whopping $9.5 billion surplus with...
...long argued, the surest way for Japan to reduce its trade surplus is to step up the expansion of its domestic economy. That would increase demand for imports as well as for domestic goods that might otherwise be exported. To this end, Prime Minister Fukuda has pledged his government to a huge deficit-spending program, which includes $22 billion for improving Japan's long neglected highways, bridges and pollution controls. Another $10.5 billion is being spent for 550,000 sorely needed new housing units. As a consequence, consumer spending is reviving, the once mountainous backlog of inventories is fast...
...strong, agree the government, business and even labor. The developing feeling in Japan that the economy must be restructured to grow more slowly is based on other factors besides the fear that a huge trade surplus would ultimately raise high the walls of protectionism abroad. The increasing value of the yen automatically increases the prices of Japanese goods overseas, inevitably hurting an economy based so heavily on trade. In addition, Japan's shipbuilding yards and textile mills are meeting tough competition from spanking new facilities in lowpaying, less developed nations such as Brazil and South Korea. Small-and medium...