Word: pumpings
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Swollen Inventories. Instead, the worst was over by late spring. The economy's vaunted "built-in stabilizers" began to work. For example, as incomes fell, Government tax collections were automatically reduced while outlays for unemployment compensation and welfare soared, thus causing the Government quite unintentionally to pump more money into the economy. Also, Administration policy turned around completely in January. President Ford late in 1974 called for a 5% surcharge on upper-level incomes; by his 1975 State of the Union speech he was instead advocating big tax reductions. The eventual result was enactment in March of $22 billion...
FRANCE is getting the benefit of a $7 billion pump-priming program begun in September. Consumers are buying again, and manufacturers are stepping up production to replenish inventories. For 1976 the government predicts a 4.7% increase in G.N.P. and a lowering of the present 12% inflation rate...
From then on, Franco's condition worsened. Within two days doctors confirmed that the dictator was suffering from congestive heart failure, the lessening ability of his weakened heart to pump blood. Next, he showed signs of pulmonary edema, the accumulation of fluid in the tiny air sacs of the lungs. Then, reported the doctors, Franco, who remained conscious, began to hemorrhage, or bleed, internally and to suffer from both a loss of intestinal activity and ascites, an accumulation of fluid in the peritoneal cavity...
...economics, he has followed the standard liberal Democratic policies of pump priming and full employment. He has recently introduced a bill calling for a breakup of big oil companies (see ECONOMY AND BUSINESS). Bayh favors some kind of federal aid for New York City. "If you let New York go down the drain," he said in a speech in Ohio, "it's going to be tough on Youngstown! It's going to be tough on Terre Haute! It's going to be tough on Peoria...
...were further aggravated by the recession-a slump in exports depressed its revenues-and by its inability to manage its subsidiaries. The firm's principal lender, the Hong Kong and Shanghai Banking Corp., began to apply gentlemanly persuasion to straighten Hutchison out. In August the bank agreed to pump $30 million into the company in return for 150 million newly created shares of its stock-on condition that Clague give way to a bank-picked successor. That ultimatum prompted Clague to make a last-ditch effort to raise capital from European banks. He failed...