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...budget for fiscal 1984 suffers more than a little in that translation. It features a spending freeze that really is not a freeze, and a plan to reduce deficits that would still leave them distressingly high. Moreover, it bases all calculations on a set of predictions about unemployment, output and interest rates so gloomy as to make clear that if the economy is "on the mend," as Reagan proclaims, the mending will be excruciatingly slow...

Author: /time Magazine | Title: Still Stuck in a Vicious Circle | 2/7/1983 | See Source »

...December, and an even 10% in 1984. By the fourth quarter of that year, when the nation will be choosing its President, the rate would still be 9.6%.* It would not get down to 6.6% until 1988. The reason, Reagan's economists predict, is that the national output of goods and services will rise only 1.4% this year and 4% in later years, too slowly to put many people back to work quickly...

Author: /time Magazine | Title: Still Stuck in a Vicious Circle | 2/7/1983 | See Source »

...fairly easily double its exports to 3 million bbl. per day in three years. That way, oil earnings would stay level even if the per-barrel price was cut in half. Other experts, however, believe Mexico would not have the wherewithal to make the investment required to double its output unless it could line up cash customers first. One willing buyer might be the U.S. Department of Energy, which under a one-year contract is already pumping 170,000 bbl. of Mexi can oil per day into the U.S. Strategic Petroleum Reserve, and has paid $1 billion in advance...

Author: /time Magazine | Title: Banking on Mexico | 2/7/1983 | See Source »

...early 1980 to 260. Bridgestone intends to keep on all current employees and recall 170 laid-off workers, probably by next week. The company will invest $35 million over the next five years to retool the factory with efficient new equipment and perhaps quadruple the current tire output...

Author: /time Magazine | Title: Grits with Sushi | 1/24/1983 | See Source »

...mile system that will cost a total of about $1.2 billion. That system, in which Continental Resources Co. also has an interest, is to be finished in the third quarter of next year. The Shell-Mobil project alone could coax out an extra 280 million bbl. and boost output by about...

Author: /time Magazine | Title: The Big Burp | 1/24/1983 | See Source »

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