Word: welling
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Dates: during 1980-1989
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...Bush Administration moved swiftly to avert any sense of crisis after the market closed. Declared Treasury Secretary Nicholas Brady: "It's important to recognize that today's stock market decline doesn't signal any fundamental change in the condition of the economy. The economy remains well balanced, and the outlook is for continued moderate growth." But Massachusetts Democrat Edward Markey, who chairs a House subcommittee on telecommunications and finance, vowed to hold hearings this week on the stock market slide. Said he: "This is the second heart attack. My hope is that before we have the inevitable third heart attack...
...Thunder, as he is known to his workers. His company has put 1.4 million American-made Hondas on the road and sold 5.1 million imports since 1970. Said he: "I found doing business here much easier than in Japan. Our company in Ohio has been so well accepted that I believe it is an American company in substance...
...catastrophic-health-care program, which lobbying groups for the elderly hailed at its passage, imposed an annual surtax of up to $800 on well-heeled Medicare beneficiaries, who balked at having to pay for benefits that were often duplicated by their private insurance. Last summer they began an intense, well-organized campaign for repeal, even though it could mean eliminating the entire program and leaving millions of needy seniors uncovered. The House voted overwhelmingly to do just that on Oct. 4, but the Senate, while inclined to eliminate the surtax, is trying to keep some parts of the program...
Such high jinks are symptomatic of much broader problems that have both caused and accelerated the emasculation of Government. Washington has been at a political impasse since Reagan's first term, when Congress -- Republicans as well as Democrats -- refused to let him gut popular domestic programs to pay for his huge tax cuts. Instead, the Government decided to have it both ways: tax reduction as well as big boosts in defense spending and increasing middle- class entitlements (notably Social Security and farm supports), offset to a small degree by cuts in programs for the poor. The resulting deficit spending...
...being a dispenser of largesse to being a moral policeman or stern taskmaster. Leadership is generally left to the President. Yet George Bush seems to have as much trouble as ever with "the vision thing." Handcuffed by his simplistic "read my lips" campaign rhetoric against a tax increase as well as by his cautious personality, Bush too often appears self-satisfied and reactive...