Word: borrowings
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...agree that Carazo, after his inauguration in 1978, unwittingly made everything worse. A politician who craved to be liked, he failed to devalue the colón and establish strict import controls. He continued to subsidize the prices of gasoline, food and imported luxury items. When he could not borrow any more, he printed additional money to pay government employees and avoid unemployment...
...cuts without commensurate spending cuts." The Administration's budget slashing efforts were nowhere near deep enough to meet its goal of a $42.5 billion federal deficit for fiscal 1982, or to make possible a balanced budget by 1984, as Reagan promised. Because the Government would have to borrow heavily to finance the growing flow of red ink, interest rates would tend to stay high...
Once family resources have been analyzed, students will be eligible to borrow the amount they need to cover college costs after other forms of financial aid and their expected family contributions are taken into account. Since the amount students can borrow is tied to tuition levels, students enrolled in more expensive private schools will probably be unaffected by new regulations, even if their family's income is far more than $30,000. Students most severely affected will be those attending inexpensive public schools and whose families earn between $30,000 and $45,000 a year...
...Bell, with ample encouragement from the Reagan budget office, has warned against premature celebrations. Acknowledging his mandate to trim the department's budget from $14.8 billion to $13.1 billion for the 1983 fiscal year, Bell announced recently that some of the new reductions would be in student loans. "To borrow a line from Macbeth, 'We have scotched the snake but not killed it,'" he reportedly told financial aid administrators in August...
Moreover, Wall Street was alarmed last week over reports that the flood of red ink may be growing, since that will increase the rate of borrowing even more. Though the Administration is sticking to its July forecast of a fiscal 1982 deficit of no more than $42.5 billion, projections last week by the Congressional Budget Office put the figure at closer to $60 billion. The Data Resources economic forecasting firm expects a budget shortfall of as much as $66 billion in the year ahead. If those figures are correct, Washington next year will have to borrow perhaps $25 billion more...