Word: undercutting
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...their PAC money at times threatened to submerge the substantive issues of the campaign. The amount of money in dispute is probably no more than $500,000; Mondale is expected to spend a total of $24.2 million before the convention. But more than technicalities were involved. The controversy undercut the pledge Mondale made early in his candidacy that he would not accept PAC contributions and raised anew questions about how beholden he is to organized labor. Mondale took the matter so seriously that when Colorado Senator Gary Hart began taunting him for not actually returning the funds ("Give the money...
...Afghanistan and Pakistan, rushed to exploit the high prices. But when the rains returned to the Golden Triangle in 1980, bumper crops followed, and suddenly growers from Iran to Thailand were saddled with a burgeoning surplus. Prices for high-grade heroin are still falling, as Asian dealers try to undercut one another in a multimillion-dollar scramble for new users. Hong Kong's 45,000 addicts can now shoot up for about the price of a movie ticket, $3. In Malaysia, a fix costs less than $2, no more than a beer...
...could go on Leave aside the obvious questions of whether the American public ever had the patience to give some of these policies a real chance or whether they were funded to the extent required or whether other Federal programs such as highway construction and tax benefits for homeowners undercut their effectiveness. The truth is that none worked the magic its advocates had predicted. In some cases (urban renewal, for example) more harm than good may have been achieved. In others management proved a real problem. In still others, well-publicized abuses particularly rip--offs of poverty and housing programs...
...very least, Government deficits of such unprecedented magnitude threaten to boost interest rates, reignite inflation, discourage capital investment and hinder growth. At worst, the budget imbalance could stop the recovery cold. Warns Volcker: "If left unattended, the deficits will accumulate until they undercut all that has been achieved with so much effort and so much pain...
Thayer's greatest weakness may have been that he lacked the full confidence of Weinberger, who seems more interested in boosting the defense budget than in cutting waste. When Thayer challenged Navy Secretary John Lehman on the need for a 600-ship Navy, Weinberger undercut Thayer at a meeting of top officials. "That session decapitated Thayer as far as the service chiefs were concerned , ' ' recalls a Pentagon insider...