Word: budget
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Dates: during 1970-1979
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Many of TIME'S economists detect that the Administration is cutting big and small federal programs extremely sharply to hold down the budget deficit and take some heat away from 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...
That is largely a result of out-of-control government spending, which this year will produce a deficit of $4.3 billion in a budget of under $10 billion. Sadat will not cut defense outlays ($1.4 billion this year) until the last of the Sinai is returned after 1982, so he must trim the huge subsidies ($1.7 billion) used to hold down the cost of food and fuel, a vestige of Nasser-era socialism. Despite big hikes in the cost of imported wheat (Egypt produces less than 30% of its needs), bread has been held to 1?; a loaf, the same...
...crunch will come in January with the announcement of the 1980 budget, which will almost certainly contain some subsidy cuts. On that potentially explosive occasion, Sadat may need all of his considerable powers of persuasion to convince his people that the "better life" he has promised is still imminent...
...biggest problem with Steven Spielberg's 1941 is its budget: this film is the most expensive Hollywood farce ever made. Certainly money has its uses in movies, but in a comedy? A key element of humor is surprise; jokes are funniest when they sneak up on the audience out of nowhere. In big-budget film making, the opportunities for comic am bush quickly disappear. Every joke announces itself in deafening stereo sound. Every pratfall is as momentous as Cecil B. DeMille's parting of the, Red Sea. Punch lines cannot be thrown away, but are instead hurled like...
Early in 1952 the Du Mont Television Network needed a low-budget show to throw into the graveyard slot opposite "Mr. Television," Milton Berle. Their unlikely idea: talks by a Roman Catholic prelate. An overnight sensation, Bishop Fulton J. Sheen's Life Is Worth Living eventually pulled nearly 20 million viewers in the weekly ratings war. A 1953 poll of journalists proclaimed Sheen TV's Man of the Year...