Word: offsets
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...budget showed a $1.5 billion deficit, largely because of huge purchases of U.S. weaponry. By law, German budgets must balance. So in September, Erhard flew off to Washington in hopes that President Johnson would agree to a reduction of the arms purchases, which were intended to offset the cost of maintaining U.S. Forces in West Germany. President Johnson plainly decided that the U.S. needed the deutsche marks more than Erhard needed help. As Erhard jetted home, German newspapers already carried stories about plots to oust...
...federal elections, registration surged and people began to vote in unprecedented numbers. Not only Negroes, but many whites. Young Harry Byrd, campaigning last summer to fill out the unexpired Senate term of his late father, even had to appeal to his audiences for a large voter turnout to offset the power of "pressure groups"--that is, Negroes...
...Barbados is kept at a comfortable 70° to 85° year round by the trade winds, has fine beaches-with Atlantic surf on one side and the calm, clear Caribbean on the other. The island's great hope is that these attractions will bring enough tourists to offset its dependence on sugar. The annual influx of tourists has risen from 25,000 in 1958 to 67,000, and is increasing by more than 15% a year...
...Live performance is not subject to labor-saving breakthroughs-it takes four musicians 40 minutes to play Beethoven's String Quartet, No. 14, just as it did when it was written in 1826. Thus, while wage increases in an industry such as auto manufacturing are at least partially offset by productivity increases, matching raises in performers' salaries, to say nothing of other production expenses, can only lead to higher costs...
After the fall, Fairchild Chairman John Carter admitted that fourth-quarter earnings will be down. He insisted that "there will not be any price cuts"-a statement that many observers openly doubted. In fact, just as the 1961 drop in transistor prices was more than offset by increased demand, a microcircuitry price cut might be healthy. So why did Fairchild take such a beating? "Well," explained one trader,"there is one thing to understand. Even though brokers may know better, buying breeds buying and selling breeds selling. Panic here is exaggerated." Fairchild now understands-both ways...