Word: transferals
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...with hard currency to continue their arms buildup. Even the British lack enthusiasm for economic sanctions, though Prime Minister Margaret Thatcher's government a week ago announced restrictions on Soviet and Polish diplomats, reduced landing rights for the Polish national airline, LOT, and imposed tougher standards for technology transfer to East bloc countries. As one senior British diplomat put it, "We don't think sanctions work. We have tried them before and know how ineffective they...
...while interest on the burgeoning national debt absorbs another 13%. The economists called Reagan's plan to take all cuts from the remaining third of the budget unworkable. Said Schultze: "What he's asking for is a dismantling of the modern Federal Government, except for defense and transfer payments like Social Security. It would mean that, after adjustment for inflation, education programs would be cut by 50% beween 1981 and 1985, social services by 40%, training and job programs by about 70%, and on down the line...
Social Security, which provides income support for 36 million Americans, has been effectively off limits to Administration budget cutters ever since the Senate last year rejected some changes in the program by a stunning 96-to-0 vote. The 46-year-old transfer program is by far the largest social plan operated by the Government, and it will receive another whopping increase next year. Outlays are to grow to $173.5 billion in 1983, up 12% from 1982-a year in which the level also increased by 12%. After inflation is taken into account, 1983 spending will be a stunning...
...Francisco Correspondent Michael Moritz, who reported on the explosion of electronics-based firms in California's "Silicon Valley," asked to transfer from TIME'S Los Angeles bureau six months ago, because he felt that the center of the state's NANCY KESSLER economic action had moved north. "Silicon Valley is a nursery of creativity," he says. "Every week people are proving that individuals are still able to make a substantial difference and to move the world." Moritz, a native of Wales who read history at Christ Church, Oxford, and earned an M.B. A. at the University...
...should at the very vigorously discussing, with respect to the bilateral and multilateral policies which are the status quo, the political practicality and economic costs and benefits of its key proposals (e.g. elimination of the brain drain from LDC's renegotiation of the debts of LDC's preferential transfer of technology and appropriate industries to LDC's expansion of the Generalized System of Preferences; formation of buffer stocks, producers associations, and indexation programs with respect to the major commodities of LDC's creation of a code of conduct for transnationals; and an increase in the role of Special Drawing Rights...