Word: upwards
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...Bennett winds up his second year in the job, some of his erstwhile critics have begun to revise his grades upward. Says Anthony Podesta, president of the Washington-based liberal lobby People for the American Way: "He used to be more a seeker of headlines than educational excellence. Now he is increasingly more responsible." Bennett may be ineffectual in getting legislation passed; indeed, both Congress and academe fault him for abandoning the traditional role of ombudsman on Capitol Hill for educational programs and funding. However most observers agree that he has been a resounding success at stirring up national discussion...
Falling energy prices for the year as a whole knocked the wind out of overall U.S. inflation. Economists estimate that prices rose only 1.8% for all of 1986. During three months of the year, the Consumer Price Index actually reversed its usual upward course and registered deflation instead...
...less important to this process than that of photographers, engineers, architects and designers. What epitomized the machine age better: a gas pump quoted in a painting by Stuart Davis or a DC-3? John Marin's watercolors of the New York skyline or the Empire State Building itself, surging upward before the astonished eyes of Gotham at the rate of one floor a day? A relief sculpture by Charles Biederman or the prodigious steel catenaries of Othmar H. Ammann's design for the George Washington Bridge...
...could help reduce the too high dollar by cutting the federal budget deficit, which hit a record $221 billion in fiscal 1986. The Treasury's need to attract foreign money to finance this deficit keeps interest rates in the U.S. high compared with other countries. That in turn puts upward pressure on the currency, because so many investors are buying up dollar-based securities. But TIME's board expects the slow progress in making budget cuts to continue next year. The deficit in fiscal 1987, which ends next October, will probably ease to $190 billion -- still well above...
...Regan, 67, seems to be out front these days, projecting an aura that at times makes him seem both commanding and condescending. With a self-confidence burnished by nine years as the chief of Merrill Lynch, he has set up a hierarchical structure that puts him alone atop the upward flow of information. Combined with Reagan's inclination to rely on his staff to sort out options, Regan's management style has earned him a reputation as the most powerful presidential adviser since Sherman Adams ran the White House under Dwight Eisenhower...