Word: backs
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Dates: during 1970-1970
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...other depressed industries, airlines had their worst year ever because of soaring operating costs, meager traffic growth and huge outlays for jumbo jets. A sensitive indicator of the U.S. economy, airline traffic goes into a dive whenever business in general weakens. This year companies reduced business travel, presidents moved back to the tourist-class cabin, and families postponed faraway vacation trips. The nation's twelve major airlines expect to lose as much as $125 million before taxes in 1970; Trans World Airlines alone will show a deficit of up to $65 million. The industry predicts even bigger losses...
Productivity will show gains largely because companies, having learned to live with less manpower, will be slow to take back the laid-off workers and executives. At the same time, there will probably be a reduction in the hiring of the newer, younger workers who have always provided the fresh ideas-the zip and leaven-for business. Unemployment will climb next year, probably exceeding 6% during some months before tapering off later in 1971. The members of TIME'S Board of Economists foresee relatively high unemployment, coupled with about a 3)% rate of real economic growth and close...
...easiest way to put people back to work is to put more money into the economy. That can be done by expanding the budget deficit or increasing the money supply, or by using a combination of both. In either case the President's power is limited. He can increase the budget only if Congress agrees, and he may well run into resistance from Capitol Hill's fiscal conservatives, as well as from Democratic liberals who are not at all eager to help his re-election drive. One possibility is that Nixon will offer only token opposition to spending...
...work there while his father and the rest of the family went into debtors' prison. So traumatic was his sense of shock and abandonment that although the experience lasted no more than five months, as a grown man he still would burst into tears whenever he found himself back in the neighborhood...
...Wilson, Dickens' determination to write sprang from a fear of sinking back into oblivion and poverty. His disenchantment with his parents primed him for his eventual satire of the feckless, posturing stratum of society that they epitomized. Father, an expansive but hopelessly improvident clerk, was to balloon into fiction as Mr. Micawber. Mother, with her snobbish faith in "connections" (one of whom was the manager of the blacking factory), would become not only Mrs. Micawber but later Mrs. Nickleby. "Peculiarly unfair" treatment for mother, Wilson concludes, but there was a special reason for that...