Word: persiane
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...estimates of this year's deficit have exploded from $100 billion to $149 billion, not counting the $100 billion bailout of bankrupt savings and loans. The gap could grow even larger if the economy, already on the brink, is pushed into a recession by surging oil prices from the Persian Gulf crisis...
...summiteers' only significant achievement so far was to agree in July on a deficit-reduction target of $50 billion. But the fallout from the Middle East conflict has made that goal obsolete. It will be more difficult to make large cuts in defense spending (the Persian Gulf buildup alone is costing $46 million a day), and rising fuel costs have rendered one new source of revenue, an energy tax, politically unpalatable. As a result, both sides agree, the most that the deficit can be cut is $30 billion to $40 billion. They are thus more likely to reach for stopgap...
Having marched headlong to the precipice of war, both sides in the Persian Gulf conflict peered into the abyss last week and took a deep breath. From all the signs, each party wanted to inch back from the brink...
...offer of withdrawal from Kuwait and release of all foreign nationals in return for several concessions: federation or some other close association between Kuwait and Iraq; guaranteed Iraqi access to the Kuwaiti islands of Bubiyan and Warbah, which block most of Iraq's scant 18 miles of Persian Gulf shoreline; and settlement of Iraq's claims regarding pumping rights in the Rumaila oil field, which lies mostly in Iraq but dips slightly into Kuwait...
Luck is the residue of design, an old saying goes, and Caryle Murphy of the Washington Post has turned that into her own version of Murphy's Law. As Saddam Hussein intensified his war of words against Kuwait, she decided to fly from her bureau in Cairo to the Persian Gulf emirate for a firsthand look. Thus she was the only American reporter in Kuwait when Iraqi troops invaded on Aug. 2. Her calm, lucid eyewitness reports -- some printed without a byline to disguise the fact that she was there -- will surely be among the prime candidates for journalism prizes...