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These frightening deficiencies are the result of a decade of neglect, following the winding down of the debilitating U.S. involvement in Viet Nam. Increases in military spending fell below the rate of inflation from 1969 through '77, and nosed upward in real terms only slightly thereafter. This erosion of the nation's ability to defend itself was, in a way, a bipartisan policy that began with Richard Nixon, who boasted that he was the first President in 20 years to devote a greater share of the national budget to social programs than to defense. Gerald Ford proposed some modest increases...

Author: /time Magazine | Title: Arming for the '80s | 7/27/1981 | See Source »

...barely single digit 9.9%, while the 1982 forecast has been shaved by slightly more than one percentage point, to 7%. The lower inflation reflects the softening demand for petroleum, but some economists are now warning that the worldwide oil miniglut may soon end, sending prices, and inflation, upward again...

Author: /time Magazine | Title: Interest Rates in the Clouds | 7/27/1981 | See Source »

...manager complained to the House master, and Hamlin was called into the master's office. "I didn't know what it was all about. I was scared. Then the master said, 'About that cockroach...'" But Hamlin didn't want to squander his upward mobility by making a fuss over a hungry roach. "It was a lot of sound and fury signifying nothing. But I was worried, I thought: 'Is my degree in jeopardy? My future?' This master was pretty mad because the manager was outraged. I never got a chance to confront...

Author: By Laurence S. Grafstein, | Title: Making It With Pride | 6/4/1981 | See Source »

...would force that country to import as much as 3.5 million bbl. daily from non-Communist suppliers by the mid-1980s, thus placing grave new strains on the world petroleum market. But last week the agency contradicted its original assessment of Soviet production capacity and revised the estimates upward, suggesting that the Soviet Union will remain self-sufficient in oil until at least 1990. By that time, perhaps, OPEC will be looked upon not as an economic menace to the world but as merely a tolerable annoyance...

Author: /time Magazine | Title: OPEC over a Barrel | 6/1/1981 | See Source »

...each ventricle through openings made in the patient's abdomen to a breadbox-size console that controls the rate and pressure of air pulsed to the heart. The console in turn is connected to an air compressor. As air flows into each ventricle, it pushes a thin membrane upward, expelling blood that has entered through the atria out through the pulmonary artery and the aorta...

Author: /time Magazine | Title: Taming the No.1 Killer: Heart Disease | 6/1/1981 | See Source »

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