Word: pointing
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Dates: during 1990-1990
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...companies have gone bankrupt so far this year. That is more than double the rate of business failures over the same period a year ago. To take the edge off the pain, Chancellor of the Exchequer John Major last week reduced a key & interest rate by a full percentage point, to 14%. At the same time, Britain said it would join the European Monetary System, which coordinates exchange rates among key members of the European Community...
...contrary to many parents' fears, have the new video technologies made matters worse. Small children who repeatedly watch their favorite cassettes are, psychologists point out, behaving no differently from toddlers who want their favorite story read to them over and over. (The VCR may actually give parents more control over their kids' viewing.) Video games may distress adults with their addictive potential, but researchers have found no exceptional harm in them -- and even some possible benefits, like improving hand-eye coordination...
...talks: House Republicans were no more willing than their opponents to support Darman's proposed cuts in health and retirement benefits and other ( federal entitlements. They bombarded Sununu's office with private pleas to protect special programs. They signed joint letters opposing cuts in pork- barrel programs. At one point, senior White House officials polled House G.O.P. members to see how many votes they could get for cuts of various sizes. "You know how much we raised from these guys?" a frustrated Bush aide asked in August. "To get 50% of the House Republicans to vote for a package...
Still, a consensus was developing: raise cigarette, gasoline and alcohol taxes, extract more revenue from the wealthy through income tax surcharges, cut domestic spending and defense. The sticking point was Bush's cherished plan to reduce the tax on capital gains. But the political temperature was rising, heated by the crisis in the Persian Gulf. The threat of war dimmed the prospects for taxes on stock-market trades or energy consumption. Rising oil prices and the specter of new inflation even moved opportunistic House Republicans led by Newt Gingrich to call for new tax cuts. "Everyone," Darman said...
...Democrats were willing, but only if Bush agreed to eliminate the "bubble," an irregularity in the income tax code that lowers the rate on earnings over $500,000 from 33% to 28%. In fear that Republicans would revolt again, Bush refused to budge on rates. At one point, Sununu discussed adjusting the tax brackets so that the lower rate would apply only to income above $500,000. This time it was Senate Democratic leader George Mitchell who said no. "That would only solve half the problem," he said. "We believe marginal rates are too low." Replied Sununu...