Word: trillion
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...roiled again. This time the battle involves not gunfire or frigates, but skillful political and legal maneuvering. The issue, discussed at some length last week during the 21st Annual Meeting of the Midwestern Governors' Conference in Des Moines, is control of the water. Containing some 67 trillion gal. of fresh water, enough to cover all of the U.S. to a depth of 10 ft., the Great Lakes are a priceless asset to those who live and work along their shores. More than 24 million people in the U.S. and Canada depend on them for drinking water. Industries in both...
Advocates of the amendment call a doleful roll: 21 deficits in the past 22 fiscal years; a national debt that now tops $1 trillion; interest on that debt, at $83 billion a year, which exceeds the total of all federal spending 25 years ago. These numbers, they insist, prove that Congress and the White House cannot resist the pressures from special interests to squander the taxpayers' money unless a prohibition is written into the Constitution. Says Utah Republican Senator Orrin Hatch, the amendment's chief sponsor...
...blown crisis would be far worse than the 1973 and 1979 oil shocks, the book says, because it would come on top of the damage done by those setbacks. The study estimates that the previous jolts have cost the U.S. and its major trading partners a total of $1.2 trillion in lost eco nomic growth between 1974 and 1981. In addition, the increased prices have dou bled unemployment rates and nearly tri pled the pace of inflation. The shares of their gross national products that Western economies spend on energy have also tri pled. Writes Yergin: "Thus, an oil price...
...informed public can force an examination and the media must assume the role of educator. People must insist that military budgets are not sacrosanct. The public must insist that military budgets be more thoroughly examined by Congress. It would be tragic if the nation spends $1.5 trillion for defense over the next few years only to learn that the nation prepared for the wrong war. That is what can happen if the majority of the members of Congress, the public and the press continue to view the publicity given to exotic systems such as the B-1 bomber...
...group of security analysts: "I recognize that in the near term our best shot at reversing our reserves decline may be to buy reserves." Cities Service will provide plenty. The Tulsa-based firm has land believed to hold at least 307 million bbl. of crude and more than 3 trillion...