Word: trillion
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When it comes to making big money quickly, thoughts of investing in bonds have not traditionally leaped to mind. Then came the summer of 1982, when declining interest rates gave the nation's $2.3 trillion bond market a spectacular liftoff, making born-again believers out of a generation of battered bondholders...
...Administration, but Weinberger enjoys a longstanding relationship with the President that Shultz can never match. As the man responsible for translating the defense imperatives of Ronald Reagan into dollars and cents, he is requesting the biggest peacetime military buildup in U.S. history, one that will cost $1.6 trillion over the next five years. Yet criticism is growing that Weinberger, by pushing so fervently to carry out Reagan's mandate to "rearm America," has been creating opposition in a frustrated Congress, which must either cut defense costs, slash social services or raise taxes to reduce the projected deficit...
Rearmament. Reagan promised a rapid buildup in U.S. military might and he has more than kept his word. The military budget is scheduled to total $1.6 trillion in the five fiscal years that began after he took office, and outlays are now rising 12% a year, by some calculations, after adjustment for inflation. This is faster than even the 5% increase Reagan targeted during the campaign. Whether the buildup is going too rapidly in light of the enormous budget deficits will be one of the most explosive controversies of the second half of the President's term...
...formation of a very small amount of a byproduct, TCDD (dioxin), is inavoldable. TCDD was present in these herbicides at a concentration of only a few parts per million. (The process has since been "cleaned up" so that TCDD is produced in concentrations of only parts per billion or trillion.) TCDD was not the active ingredient of Agent Orange, as Mr. Solomon states...
...Many bishops became more active in various antinuclear efforts. In November 1980, the bishops authorized the Bernardin committee to begin work on the pastoral letter. Pressed by mounting local demands to help the poor and the unemployed, key church leaders like Roach also assailed Reagan's $1.5 trillion defense buildup. The ensuing antinuclear wave in Western Europe and the U.S. has strengthened the bishops' commitment...