Word: term
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Dates: during 1970-1979
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...have an effective energy bill, I don't deserve to be re-elected and the Congress doesn't deserve to be re-elected." That was a bit much for Senate Majority Leader Robert Byrd, who has not indicated whether he will support Carter for a second term. Congress, protested Byrd, should not be judged on a single issue. "This is no time to suggest any such thing," he said. "We've already done...
...formally enter. It is the view of several public opinion analysts that Americans will sip their Christmas eggnog and ask themselves one final question about the incumbent: What in Carter's three-year White House behavior makes one think he would do the right thing in a second term? If there are no new achievements in economics, energy and foreign policy, they will turn elsewhere...
While the flight to gold shows that some investors remain worried about the long-term direction of the U.S. economy, the market decline early last week was considered to be a short-lived emotional response to higher interest rates. These both slow the economy and make bonds relatively more attractive than stocks. Federal Reserve Chairman Paul Volcker repeated that he is committed to throttling back the growth of money supply, and that interest rates would therefore remain high as long as the rate of inflation did. Indeed, the banks' prime rate for business loans climbed from...
Another bullish factor is that investors have put a large cache of cash in short-term securities and money-market funds, and it is available to switch into equities when the time is right. This pile has been conservatively valued at $65 billion. Another $4 billion to $5 billion also could come into the market from Europe, where record amounts of cash have been stuffed into short-term securities. The Europeans are waiting to see if the Carter Administration is serious about defending the dollar and beating back inflation by maintaining tight fiscal and monetary policies...
DIED. Homer Capehart, 82, three-term Republican Senator from Indiana (1945-63); from complications following a hip fracture; in Indianapolis. The son of a tenant farmer, Capehart made a fortune selling jukebox equipment and got into politics after organizing a 1938 "cornfield convention" of 20,000 Republicans. As Senator, he supported farm subsidies and helped establish the Small Business Administration. An enthusiastic McCarthyite, Capehart staked his 1962 senatorial campaign on a tough anti-Cuba stand ("invade or blockade") and lost narrowly to young Birch Bayh when President Kennedy's embargo of Cuba took away his thunder...