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Governments and charities will spend relatively little, about $500 million, to help the homeless this year. But the budgets are lurching upward. Since April, Congress has appropriated $140 million in special aid. New York City's expenditures on its 60,000 homeless people more than doubled this year, to $135 million. Officials at all levels seem to be scrambling to address-or dismiss-the problem. Presidential Counsellor Edwin Meese caused a furor last week by dubiously claiming that "people go to soup kitchens because the food is free and that's easier than paying...
...four legs and a foot and can't walk. It has a head and can't talk. What is it? 2) What lives in winter, dies in summer, and grows with its root upward? These are only a small sampling of Monika Beisner's Book of Riddles (Farrar, Straus & Gir-oux;$11.95). The mystification is alleviated by Beisner's teasing illustrations, which scatter clues for those who know how to observe. The answers, incidentally, are: 1) a bed, 2) an icicle. And those are the easy ones...
Without some congressional action, a big chunk of the cross-subsidy system is going to disappear, putting fierce upward pressure on bills for local phone services. Regional phone companies stand to lose about $3.3 billion in revenues that they received from AT&T's long-distance tolls when they were still under Ma Bell's roof. Currently, about 37? from each dollar in revenues from long-distance charges is plowed back into the local companies...
...Independents by receiving transfer votes from Richard Bradson, the special interest candidate backed by condominium owners. Branson was 11th in the race, and pols were uncertain whether his constituents would transfer votes to CCA candidates or to conservatives. On the one hand, condo owners tend to be young and upward mobile, the profile of the typical CCA supporter. On the other hand, the CCA has taken a strong stand against condo conversion, to product low-to moderate-income housing...
...toll taken by the strong dollar has been heavy. Some economists believe it has been responsible for the loss of more than 1 million American jobs. Europeans complain that it could cause their prices to spiral upward. Cash-starved developing nations argue that an overvalued dollar undermines their ability to repay huge foreign debts. When world moneymen gathered in Washington last week for the annual meeting of the International Monetary Fund and the World Bank (see box), some financiers feared that the dollar had become a barrier to recovery around the world...