Word: tailspins
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Love-Hate Affair. In retrospect, that was exactly the wrong program. An easing in monetary policy, a moderate tax cut and some loosening of spending last year might have prevented the recessionary tailspin from gathering momentum. Those measures might have averted the pressure for massive stimulus now and could have held down the budget deficit, which is ballooning largely because of falling tax revenues and rising spending for unemployment compensation and other income-support programs. When Ford reversed policy and advocated a $16.5 billion net tax cut, Simon grudgingly went along, and he is now concentrating his efforts on containing...
...TIME's Board of Economists as they gathered to trace the likely course of the economy for the year ahead. Tax Expert Joseph Pechman described the situation as "desperate," and Arthur Okun, former chairman of the Council of Economic Advisers, worried that the economy "is in a tailspin." Liberals Robert Triffin and Robert Nathan showed their concern by wearing BATH (for "Back Again to Hoover") buttons...
Helmut Schmidt must attempt to pull the Social Democrats out of their tailspin after he takes the oath of Chancellor next week. He has his task well cut out for him. The urgent problems that depressed Brandt have not gone away. Moreover, a public opinion poll released last week showed that voter preference for the S.P.D. is at an all-time low of 21%; only 7% favor the Free Democrats, while 62% support the Christian Democrats. Schmidt and the Social Democrats are lucky that they do not have to face another national election until the fall...
Under normal circumstances the ruthless paring would have flown Pan Am back into the black. Indeed, until the fourth quarter of 1973, the company was headed for a modest profit. But the promising climb turned into another tailspin when fuel prices began to rise, and Pan Am wound up 1973 with an $18.4 million loss. In the last three months of 1973, fuel leaped 8.8? per gal, to 23.3?, adding $31.4 million to Pan Am's bills. This year the company predicts that fuel will average more than 35? per gal., lifting the company's expenditures...
...meoric rookie year fizzled into a tailspin his junior year, when inconsistency and a more balanced offense cut Fitzsimmons's output to 12.2 an outing. Still, he finished seventh on the all-time Crimson scoring list and leaves with an overall 18.5 scoring average...