Word: trillion
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...trillion spending plan for fiscal 1990 predicts a deficit of $93 billion, a smaller overdraft than those Reagan requested and got in earlier years, when he blamed Democrats for the deficit. It calls for a $4 billion hike in defense spending, $10 billion cuts in programs that mainly benefit the middle class and a $4 billion jump in Government efforts to assist the poor. There are some wildly optimistic assumptions, such as the forecast that over the next year interest rates will fall a whopping 2.7 percentage points...
...economy does stagnate or lose ground this year or next, it might have a relatively hard time getting moving again because of the heavy baggage of debt. Corporate borrowing, including the junk bonds that are used for leveraged buyouts, has zoomed from $965 billion in 1982 to nearly $2 trillion last year. A study of 643 corporations by Washington's Brookings Institution concludes that in the next recession 1 out of 10 firms could run out of cash and be forced to file for bankruptcy protection...
Foreign ownership of American farms, companies, banks and bonds has almost doubled since 1981 and now approaches $1.5 trillion. A lower dollar will eventually increase American exports--but will it be America any longer...
...took a hard look at the numbers Gorbachev ticked off in his sweeping U.N. speech were less impressed. "What counts isn't what he's taking out, assuming he does, but what remains," observed former Secretary of Defense Caspar Weinberger, the skeptical architect of the Reagan Administration's $2.4 trillion defense buildup. Soviet superiority in conventional forces in Eastern Europe is so great, claimed Jimmy Carter's Defense Secretary Harold Brown, that the cuts will not significantly reduce their advantage. Said Brown: "If war were to break out today, I would not have very much confidence that NATO could hold...
After all, the only ones that lose out when a leveraged buyout is closed are the government, since the loans taken out by companies are tax-deductable, the economy, since leveraged buyouts have caused the level of business debt to double to more than $1.8 trillion in the past five years, the company employees who are often either laid off or uprooted across the country by the restructuring process, and the consumers, who don't get new products at better prices, but the same products at higher prices because a hostilely-bought company has to use all available funds...