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...opposing view is that federal deficits will swell alarmingly for two reasons: recession, which increases Government outlays for programs like welfare and reduces tax collections; and the deep tax cuts legislated last summer. Once the recession is no longer exerting pressure against price boosts, the deficits can cause them to speed up again. Reason: the Government pumps more money into consumers' pocketbooks than it takes out. The Federal Reserve Board will consequently continue its tight-money policy. That, and Government borrowing to cover the deficits, will kick interest rates back up again...

Author: /time Magazine | Title: Ready for a Real Downer | 11/23/1981 | See Source »

EVER SINCE former soldier Alexander M. Haig Jr. said he wanted to be a "vicar" as a diplomat, Washington has not treated him kindly. As most people saw it, he was a brusque, imperious swell-headed general who would never make a good team member, unless of course, he was the star--and coach. After a few comments about "hit lists" and "authoritarian" versus "totalitarian" regimes, he met with a shower of ridicule and abuse. And in the wake of the Reagan shooting, when he seemed to be wearing his presidential aspirations right there on his sleeve--in place...

Author: By Paul Jefferson, | Title: Sympathy for the Vicar | 11/17/1981 | See Source »

...White House years. Regan polished up some nuggets from Andrew Mellon, the Secretary of the Treasury of those exuberant days. One of them: "If the spirit of business adventure is killed, this country will cease to hold the foremost position in the world." That is the stuff to swell a supply-sider's heart...

Author: /time Magazine | Title: The Presidency: Puritan in the Cabinet Room | 11/16/1981 | See Source »

...would likely aid other CCA candidates more than Walter's would help other Independents. The same is also true later in the week-long count, when candidates are eliminated one by one for having too few votes. When a CCA candidate is eliminated, the ballot is likely to swell the total of someone else on the slate; when an Independent is eliminated, the ballot often "dies because only one or two other names are marked...

Author: By William E. Mckibben, | Title: Predicting the Unpredictable | 11/2/1981 | See Source »

...fiscal 1986 the cumulative federal largesse could swell to $29 billion, making it one of the biggest business subsidies in the tax bill...

Author: /time Magazine | Title: Leasing Profits | 11/2/1981 | See Source »

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