Word: billion
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Dates: during 1970-1979
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...rising prices. Still, Carter's aides are probably underestimating the size of the deficit. A recession would pull down tax receipts and increase federal spending on unemployment compensation, food stamps and other social programs. While the White House officially maintains that the 1980 deficit will be about $30 billion, some of TIME'S economists expect it to approach $50 billion. The problem will continue into fiscal 1981, which begins next October. Says Joseph Pechman of the Brookings Institution: "It is a very dismal budget outlook, and there is going to be a real fight...
...then in 1981. Congress has many ideas for reducing Social Security taxes; on Jan. 1, they will rise from $1,404 to $1,588 a year for anybody earning $25,900 or more. The Board of Economists expects that, in all, taxes will be cut by about $30 billion, including a reduction of some $10 billion for business, probably in the form of liberalized depreciation. Though such a move would increase the deficit at first, it would soon after pay dividends. By helping to sharpen the nation's efficiency, it would combat many of the problems that...
...Fully 60% of all U.S. women aged 20 to 64 hold paying jobs; not many more housewives are in a position to go to work. Savings have declined since the early 1970s from 7.4% of income to a modern low of 4.3%. Consumer installment credit has surged from $210.8 billion in 1974 to $369.3 billion in the third quarter of 1979. In brief, the American consumer will soon be forced to reduce his spending, and this will be a mainspring of the recession...
This year, trade between the two countries is expected to reach an impressive total of $9.6 billion, up from $7.4 billion in 1978; it has made Taiwan the U.S.'s eighth largest trading partner. By contrast, two-way trade between the People's Republic of China and the U.S. this year will amount to $1.8 billion. Washington has quietly but systematically encouraged the bilateral trade boom. Among major recent deals: the Export-Import Bank, which sent a delegation to the island this fall, extended $500 million worth of loans during 1979. Since January, American banks have also contributed...
...which binds the atomic nucleus together)-they and other researchers determined that such unity requires a net loss of baryons when certain particles collide. In other words, the proton must decay into lighter subatomic fragments. By most physicists' reckonings, protons have a mean life of around 10,000 billion billion billion (10³-²) years (more than half of them will disintegrate in that time). Thus out of 10³-² protons, only one is likely to decay each year. The problem: how to detect that rare disintegration...