Word: programing
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Dates: during 1990-1990
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...That is scarcely more than the cost of a blank cassette; Persona's advertising will even point out that the tape can be reused after viewing (as can all prerecorded tapes, with a little tinkering). Reason for the cut-rate price: the two-hour program includes 20 minutes of commercials...
...overlooked. It's one of the fastest-growing items on the federal books: interest on the national debt. It has more than tripled, from $52 billion in 1980 to $179 billion in 1990. It is closing in on Social Security ($222 billion) as the Government's largest transfer program...
...politics of the federal deficit. Why have so many conservatives made their peace with it? The standard conspiracy theory is that they see the deficit as a way to hold down spending. But here is an alternative conspiracy theory: interest on the debt is a $179 billion social-welfare program for owners of capital, who tend to be conservatives. Or, at least, all those interest payments make the thought of the Government's going deeply into debt more acceptable to certain people than the alternative: that the Government might pay its way through progressive taxation...
...debtor to the rest of the world. But most interest payments are still to Americans. The national debt is around $10,000 a person, or $40,000 for a family of four. If your bond portfolio is bigger than that, you may be a beneficiary of this social-welfare program for - coupon clippers...
...unless we are prepared to trash our currency, we are stuck with this bizarre and expensive welfare program. At least the beneficiaries aren't the undeserving poor...