Word: weakens
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Meanwhile, unemployment has vastly increased spending by governments at all levels-for food stamps, welfare, Medicaid. Just to pay their current bills, many states will have either to raise taxes or postpone capital construction. The former would weaken some of the buoyant effects of a federal tax cut; the latter would swell unemployment. The cost of unemployment compensation in this fiscal year will be at least $18 billion, and it stands to rise next year. To help pay for it, the Labor Department is urging states to raise company taxes that feed the unemployment compensation funds; if this happens...
...says, if personal exemptions were swiftly increased, standard deductions raised, and people were given a tax credit equal to 2% of their earnings up to $14,100 a year. Moreover, David Grove of IBM believes, the Administration's plan to divide the rebate into two payments would further weaken its stimulative impact...
...from a far more important provincial capital, Tay Ninh (pop. 250,000). If the Communists can hold the mountain, they will be in a strong position to launch a Phuoc Binh-style artillery barrage on the city, thus making it the next target in the Communist effort to further weaken the Saigon government...
...would ask Congress for $300 million in supplemental funds for new weaponry for Saigon, increasing the current $700 million already appropriated for 1975. Proponents of the request will surely argue that Saigon's shortage of ammunition and aviation fuel seriously hurt its cause in Phuoc Binh and will weaken its defense of other Communist targets. Administration spokesmen predicted that some emergency funds would be approved, but the heavily Democratic Congress, already preoccupied by recession, the oil crisis, and the confrontation in the Middle East, is bound to be reluctant to come once again to the aid of beleaguered South...
...runaway prices. In their view, soaring costs are a key factor in the business downturn because they force consumers to put off purchases of everything from autos to airline tickets. Even so, Simon and Greenspan have said that a tax cut might be appropriate if the economy continues to weaken...