Word: trillions
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Dates: during 1990-1999
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...girlfriend. Burnham's audit includes abuses and inefficiencies that date back more than 50 years. Recent probes by the General Accounting Office have discovered broad areas of error and mismanagement. A study covering 1987, notes Burnham, concluded that the IRS failed to keep orderly accounts of its $1 trillion annual collections. For the same year, the GAO found that nearly half its samplings of 6 million notices and letters that the service sent to taxpayers were "incorrect, unresponsive, unclear or incomplete...
...good news is that the U.S. gross national product doubled during the 1980s, from $2.7 trillion to $5.3 trillion. The bad news is that much of this was done by borrowing. The national debt tripled, from $909 billion to almost $2.9 trillion (interest alone now amounts to $165 billion a year, roughly the equivalent of the budget deficit). Corporate and personal debts both soared. All in all, the U.S. consumed $1 trillion more than it produced in goods and services...
...world. The bad news is that the U.S. was the world's largest creditor in 1980 but went into the red in 1985, and has become the world's largest debtor. Its trade deficit runs about $150 billion a year. Foreign holdings in the U.S. now amount to $1.5 trillion, compared with $1.2 trillion in U.S. assets abroad. And meanwhile, the grinding poverty of the Third World, by now $1 trillion in debt, has not improved in the least...
...conservatives. Much of American policy now seems based on the conceit that insofar as Gorbachev is good news, he is both a consequence and a vindication of Western foresight, toughness, consistency and solidarity. According to this claim, the heady events of 1989 are the payoff for the $4.3 trillion ($9.3 trillion adjusted for inflation) that it has cost the U.S. to wage peace since...
Some go further, contending that the $2 trillion Reagan defense buildup of the 1980s made possible the opportunities for ending the cold war in the 1990s. In other words, had it not been for the whole panoply of post-detente Western pressure tactics, starting with the imposition in 1974 of the Jackson- Vanik Amendment linking improved U.S.-Soviet trade to increased Jewish emigration from the U.S.S.R., there would be a different man in the Kremlin today. Or at least there would be a very different Gorbachev, one who would still be suppressing dissidents, sending refuseniks to Siberia, invading neighboring countries...