Word: crunches
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Dates: during 1960-1969
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...short run, the bill will increase federal revenues. Eventually, however, as tax reductions take effect, federal intake will decline sharply, creating what one Treasury man calls "the revenue crunch of the '70s." The bill represents a Democratic attempt to win the affections of Nixon's middle-class constituency by offering ample benefits to middle-income taxpayers. A couple with two children and a $10,000 income, for example, will save $209 by 1973; the same family earning $25,000 would gain $172. Says one Senate Democrat: "What we are fighting for is suburbia." Former Budget Director Charles Schultze...
...Stockboys wheel out new racks of dresses and are immediately mobbed. Mrs. Conroy: "We sort of crunch those poor boys up against the wall, grab what we can and then, resuming our ladylike dignity, trip...
...adherents, has been greatly magnified by Federal Reserve Board mistakes. From April 1965 to April 1966, the money supply expanded at an abnormally high 9½%-per-year rate, even though inflation was on the rise. Too late, says Friedman, the board reversed itself too emphatically, and caused the "credit crunch" of August 1966. In 1968, the board, fearful that the tax surcharge would overburden the private economy, increased the money supply at an average annual rate of 10%?almost twice the rate that the economy could absorb without inflation. Then, a year ago, the board switched to its restrictive...
...little more than issue position papers on current problems, and that practical accomplishments like its controversial Delta Ministry, which works among poor Mississippi Negroes, are rare exceptions. During preparations for this month's triennial general assembly in Detroit, Christian Century predicted that the N.C.C. would see "a crunch of intense feelings and an unleashing of the urge to tell it like it is." The crunch came last week in Detroit's Cobo Hall. In its meetings, at least, the N.C.C. was clearly in tune with the national mood: the air was filled with accusations, polemics, threats, name-calling...
More immediate benefits are the beer, coke, pretzels, and Captain Crunch tonight. Sports is on the way up at the CRIMSON, and you can be a part of it. Come talk to us tonight...