Word: cutbacks
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...calling the unemployment cutback a tax, then, the President is merely linguistically shrouding what it really is--a new budget cut to help bail the Administration out of its budget deficit problem. While reassessing costly benefit programs is in itself entirely reasonable, the White House's backdoor style an describing and disclosing the concept warrant disdain...
Generally considered a free-market economist, Feldstein has criticized supply-side extremists who promised that the 1981 tax cuts would trigger sudden growth in the economy. In practical terms, he is also keenly concerned about the widening size of the federal budget deficit, and favors a cutback in Social Security cost of living increases as a way to combat it. He also suggests that federal policies have diverted too much of the nation's capital into housing, a stance that brought him opposition from the national homebuilders' lobby...
...government of President José López Portillo has asked for between $4 billion and $5 billion in three-year credits, but before granting it, the fund is expected to insist on a package of tough austerity measures that may include higher taxes and a sharp cutback in government spending...
Mexico has asked for a $4.1 billion loan from the International Monetary Fund, but the aid is likely to be granted only if the country adopts new austerity measures to improve its balance of payments. Such moves might include higher taxes and a sharp cutback in government spending. While helping Mexico's credit rating, these steps would also boost unemployment. López Portillo gave no specifics of a new austerity program in his speech. Making unpleasant economic choices will soon be the job of his hand-picked successor, Miguel de la Madrid Hurtado, who will take office...
Saud, in turn, warned members of the Senate Foreign Relations Committee that Arab nations "would hold the U.S. responsible" for a bloody Israeli assault on West Beirut, and hinted at retaliation. Committee Chairman Charles Percy of Illinois wondered whether this might take the form of a cutback in the oil production vital to Western economies and a massive withdrawal of Arab money from American banks. So the moment of opportunity for American policymakers in the Middle East is also a moment of peril...