NerdiestKen
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Post by NerdiestKen on Jul 20, 2023 9:21:15 GMT -6
Drought Affects Crop Production - July 1988 The Agricultural Department forecast, July 12, that production of important crops would decline significantly as a result of the drought that had affected much of the nation since the spring. The department said production of corn would fall by 29 percent, soybeans by 14 percents, wheat by 13 percent, and barley by 45 percent. The department's report said foreign supplies could meet any shortages, July 28, to provide drought relief, including a grant of up to $100,000 to farmers who had lost at least 35 percent of their crops. The similar bills would be reconciled in a conference committee. Rain, in the second half of July, eased drought conditions somewhat.
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NerdiestKen
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Post by NerdiestKen on Sept 20, 2023 17:17:15 GMT -6
Reagan Submits $1.09T Budget - February 1988 On February 18, in submitting a $1.09T budget for the 1989 fiscal year, Pres. Ronald Reagan sought to adhere to the late-1987 deficit-reduction agreement with Congress. The agreement had provided for deficit-reduction through tax increases and reduced spending, user fees, and sales of assets. For the 1989 fiscal year, which would start October 1, 1988, Reagan projected a deficit of $129.5B. Interest on the national deby along would be $151.8B, 14 percent of the budget. Despite spending limitations, the budget called for greater outlays for education, AIDS research, space and science programs and anticrime programs--especially those aimed at illicit drugs. Farm programs and the Environmental Protection Angecy were among the targets of spending cutbacks. Reagan asked for authority to spend $299.5B for defense in fiscal 1989, a dramatic $33B reduction from the figure proposed for 1989 in January 1987 when he had submitted a budget for 2 years. One almost immediate result of this retrenchment was the resignation, February 22, of Secretary of the Navy James Webb, who had served less than a year. Writing to Reagan, Webb criticized Defense Secretary Frank Carlucci's decision to retire 16 small ships as an economy move. Carlucci said Webb had not come to him to object about the budget cuts.
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NerdiestKen
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Post by NerdiestKen on Sept 26, 2023 10:19:31 GMT -6
AFL-CIO Readmits Teamsters - October 1987 The 35-member executive council of the AFL-CIO decided unanimously, October 24, to readmit the 1.6M-member Teamsters union to its ranks. The scandal-ridden union had been expelled from the federation in 1957. Pres. Jackie Presser was awaiting trial, and the U.S. Justice Dept. was considering removing the union's leadership because of possible links to organized crime.
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NerdiestKen
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Post by NerdiestKen on Oct 4, 2023 9:20:43 GMT -6
Central American Amnesties Approved - October 1987 Two Central American countries approved amnesties in October to comply with the peace treaty signed by the region's countries. Edgar Chamorro, a former contra who had opposed Nicaragua's Sandinista regime, accepted an amnesty offered earlier by the government and returned to Managua, October 19. Pres. José Ascona of Honduras met with Pres. Ronald Reagan in Washington, October 21, and asked that U.S. military aid to the Nicaraguan contras be suspended until at least January. The peace treaty required that outside aid to rebels in Central America be ended. The killing by unidentified gunmen of the president of the Salvadoran human rights commission, October 26, increased tensions in that country, but the national assembly, October 27, approved, 45-0, and amnesty for leftist guerillas as well as right-wing death squad members and military men linked to massacres. An exception was made for the killers of Archbishop Oscar Arnulfo Romero in 1980. Those eligible for amnesty would include the killers of 4 U.S. churchwomen in 1980 and those who killed 4 U.S. Marines and 9 others in San Salvador in 1985. Pres. Oscar Arias of Costa Rica said, October 27, that Nicaraguan intransigence on peace talks was threatening the peace process. The Congress of Guatemala, October 28, approved an amnesty law. Nicaraguan leaders, October 29, reaffirmed their commitment not to discuss a cease-fire with contra leaders.
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NerdiestKen
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Post by NerdiestKen on Nov 27, 2023 12:11:08 GMT -6
Japan's New Premier Chosen - October 1987 Premier Yasuhiro Nakasone of Japan chose his successor in October. Three leading candidates had begun talks among themselves earlier in the month but had been unable to agree on which should succeed Nakasone. All said that they would essentially follow Nakasone's policies. After they asked Nakasone to choose among them, the premier, October 20, named Noboru Takeshita, a former finance minister, to replace him as president of the ruling Liberal Democratic Party. As party leader, Takeshita was assured of being designated premier. The Diet (legislature) formally elected him premier, November 6.
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NerdiestKen
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Post by NerdiestKen on Nov 27, 2023 12:29:38 GMT -6
Spending and Budget-Cutting Bills Signed - December 1987 In December, Pres. Ronald Reagan signed two budget bills. One, an omnibus spending bill, established levels for the 1988 fiscal year. It replaced 13 departmental appropiations bills that funded all government activities. The second bill sought to reduce projected federal budget deficits. Enactment of the bills canceled automatic Gramm-Rudman reductions that were already in effect. The spending bill almost foundered on Reagan's desire for "adequate" funding for the contras opposed to Nicaragua's Sandinista government. His December 18 threat to veto the bill prompted Democrats to provide $8.1M in nonlethal aid to the contras. Then, on December 21, White House opposition forced deletion of a provision restoring the so-called fairness doctrine requiring broadcasters to present all sides of controversial issues. The $603.9B spending bill represented a reduction, adjusted for inflation, of $7.6B from 1987 spending levels, with two-thirds of the cut coming from defense. The bill also gave a 2 percent pay increase for most federal workers, permitted 20 states to raise the speed limit to 65 miles an hour on rural 4-lane highways that were not a part of the interstate system, banned cigarette smoking on airline flights under 2 hours, and delayed for 8 months imposition of penalties on cities that fail to meet clean-air standards. The budget-reduction bill included $9.1B in tax increases, targeted mostly on corporations and wealthy individuals. According to projections, the bill's provisions would reduce the deficit by $33.4B in 1988 and by $42.7B in 1989. Reagan signed both bills, December 22.
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NerdiestKen
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Post by NerdiestKen on Nov 27, 2023 12:53:54 GMT -6
NBA Final 1987-88 Standings for the Eastern & Western Conferences Atlantic Division Boston Celtics 57W/25L/- Washington Bullets 38W/44L/19GB New York Knicks 38W/44L/19GB Philadelphia 76ers 36W/46L/21GB New Jersey Nets 19W/63L/38GB | Midwest Division Denver Nuggets 54W/28L/- Dallas Mavericks 53W/29L/1GB Utah Jazz 47W/35L/7GB Houston Rockets 46W/36L/8GB San Antonio Spurs 31W/51L/23GB Sacramento Kings 24W/58L/30GB | Central Division Detroit Pistons 54W/28L/- Atlanta Hawks 50W/32L/4GB Chicago Bulls 50W/32L/4GB Cleveland Cavaliers 42W/40L/12GB Milwaukee Bucks 42W/40L/12GB Indiana Pacers 38W/44L/16GB | Pacific Division Los Angeles Lakers 62W/20L/- Portland Trail Blazers 53W/29L/9GB Seattle SuperSonics 44W/38L/18GB Phoenix Suns 28W/54L/34GB Golden State Warriors 20W/62L/42GB Los Angeles Clippers 17W/65L/45GB |
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NerdiestKen
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Post by NerdiestKen on Nov 27, 2023 13:25:05 GMT -6
NFL Final 1987 Standings for the National & American Conferences Eastern Division Washington Redskins 11W/4L/0T Dallas Cowboys [e] 7W/8L/0T St. Louis Cardinals [e] 7W/8L/0T Philadelphia Eagles [e] 7W/8L/0T New York Giants [e] 6W/9L/0T | Eastern Division Indianapolis Colts 9W/6L/0T New England Patriots [e] 8W/7L/0T Miami Dolphins [e] 8W/7L/0T Buffalo Bills [e] 7W/8L/0T New York Jets [e] 6W/9L/0T | Central Division Chicago Bears 11W/4L/0T Minnesota Vikings 8W/7L/0T Green Bay Packers [e] 5W/9L/1T Detroit Lions [e] 4W/11L/0T Tampa Bay Buccaneers [e] 4W/11L/0T | Central Division Cleveland Browns 10W/5L/0T Houston Oilers 9W/6L/0T Pittsburgh Steelers [e] 8W/7L/0T Cincinnati Bengals [e] 4W/11L/0T | Western Division San Francisco 49ers 13W/2L New Orleans Saints 12W/3L/0T Los Angeles Rams [e] 6W/9L/0T Atlanta Falcons [e] 3W/12L/0T | Western Division Denver Broncos 10W/4L/0T Seattle Seahawks 9W/6L/0T San Diego Chargers [e] 8W/7L/0T Los Angeles Raiders [e] 5W/10L/0T Kansas City Chiefs [e] 4W/11L/0T |
[e] Denotes eliminated from playoff contention Note(s)The 1987 season had 15 games instead of 16 because of the NFL player strike. This is the final season for the St. Louis Cardinals football team. They would be known as the Phoenix Cardinals to start the 1988 season.
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NerdiestKen
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Post by NerdiestKen on Mar 7, 2024 10:00:23 GMT -6
Trade Bill Veto Upheld - June 1988 The Senate failed, June 8, to override Pres. Ronald Reagan's veto of the comprehensive trade bill. The vote to override, 61-37, was short of the two-thirds majority required. Senate leaders thought it possible that a revised bill, as urged by Reagan, could not be drafted during 1988. In Japan, the Ministry of International Trade and Industry, having previously called the bill racist and protectionist, hailed its failure to pass.
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NerdiestKen
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Post by NerdiestKen on Mar 7, 2024 10:18:15 GMT -6
Prime Rate Cut again - November 1987 On November 5, for the second time in two weeks, U.S. banks lowered their prime rate by one-fourth percent, this time from 9 percent to 8.75 percent. The U.S. dollar slid to postwar lows, November 10, against the Japanese yen and the West German mark, but recovered a bit, November 11, after Pres. Ronald Reagan remarked that he didn't look for a further decline and didn't want one. The Labor Dept. reported, November 6, that the unemployment rate in October had edged upward from 5.8 percent to 5.9 percent. The U.S. trade deficit declined in September to $14.08B from $15.71B in August, the Commerce Dept. reported, November 12. The news gave an immediate 61-point lift to the Dow Jones Industrial Average. The Labor Dept. said, November 13, that prices charged by producers for finished goods declined 0.2 percent in October, the first such drop since July 1986. Housing starts declined 8 percent in October to the lowest level in 4 years, the Commerce Dept. said, November 18. The Labor Dept said, November 20, that the consumer price index rose 0.4 percent in October. Having plummeted in October, the Dow Jones average closed, November 30, at 1833.55, a more modest decline for the month of 159.98 points.
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NerdiestKen
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Post by NerdiestKen on Mar 11, 2024 13:52:13 GMT -6
1989 Budget Approved - May 1988 A Senate-House Conference Committee completed action, May 26, on a nearly $1.1T budget for the 1989 fiscal year. Military and nonmilitary spending were both up for the year, and a deficit of $135.3B, which some critics thought optimistic, was projected. The House, May 26, approved the plan, 201-181. The Senate, June 6, gave its approval, 58-29.
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