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Show 4 Classifieds, Tuesday, June 19. 1990 Carbon-Emer- y Theres still time to be counted Its your last chance. If you didnt receive a 1990 ment offices and in newspapers to be filled out and mailed Census questionnaire, if the in. census takers missed you, if You call may you lost your questionnaire or and Census if you just never got around to Bureau staff in your area will filling it out, you still count. As answer the phones from 9 a.m. always, your answers are kept to 9 p.m., seven days per week absolutely confidential. for people who believe they have never been counted. You can still be counted in two ways. were too optimistic. It now estimates S&L assets are sold. Since WashingOnly seven basic questions are asked. that the FY 1991 deficit will be at ton is largely to blame for the S&L Were You Counted?" least $155 billion under current pro- mess, it should not be rewarded with a forms will be available at comIf you need assistance there grams and tax rates, excluding one- tax increase to pay for it. lines you are other toll-fre- e munity organizations, govern Economic Crisis or Money Grab? By Stephen J. Entin Washington is whipping up deficit hysteria to lure the nation into accepting a major tax increase. The budget summit has nothing to do with an economic crisis. Washington simply lacks the political will to cut government spending and waste. There has been substantial progress in reducing the federal budget deficit in recent years. The deficit peaked at 6.3 percent of gross national product (GNP) in FY 1983, and peaked in dollar terms at $221.2 billion in FY 1986. It has since fallen sharply, to 2.9 percent of GNP and $151 billion in FY 1989. When the deficit is less than 3 percent of GNP, it is not an economic threat, even on a continual basis. The economy will be growing, on average, faster than the debt, and interest on the debt will take up a shrinking share of the budget. The economy can grow its way out of the remaining deficit problem without further tax increases, if spending is not expanded beyond projected growth under exist- ing law. In January, the administration forecast that, as a result of economic growth and past spending cuts, the deficit would decline rapidly, reaching $100.5 billion (2.3 percent of GNP) in FY 1991, with a budget surplus by FY 1995. This would have made it easy to meet the (GRH) deficit reduction targets with only moderate additional spending restraint. The administration's economic' assumptions time spending for the S&L bailout. This is not an economic crisis. The deficit is not ballooning out of control. Even after adjusting for the administrations revenue error and foreoverly optimistic interest-rat- e cast, the deficit would still be trending down in the years ahead under ongoing programs and tax rates. The problem is a legal one. The GRH deficit target for FY 1991 is $64 billion. Assuming the budget summit does not include the S&L bailout in the GRH targets, this leaves a gap of $91 billion between the new budget projection and the GRH target. This gap is the source of the budget crisis; Congress and the administration dont think they can agree on spending cuts of that size, and do not want to risk automatic spending cuts. The key is to adjust the GRH targets. They should be reset at $125 billion for FY 1991 , falling $25 billion a year until the budget is balanced in 1996. Since revenues are rising under current tax law by $60 billion in a slow- year, and by $80 billion in a good one, such targets can be met with modest spending restraint and no tax increases. These targets exclude additional borrowing for the S&L bailout, which could reach $130 billion over three years. However, this will be a onetime event, if the federal cleanup crew does its job right, and some of this money will be recovered when the Tax increases, whether income taxes, payroll taxes or excise taxes, directly threaten economic growth. They increase the cost of goods and services and cut sales and output. They cost jobs by making labor more expensive and work less rewarding. They discourage savings and investment. There is no historical evidence that deficit reduction via a tax increase would lower interest rates and make up for this direct damage. Spending cuts are different. They reduce governments use of the publics savings, and they also release the manpower, steel, computer chips and other real resources the government would have used up, leaving them for the private sector to create homes, factories or consumption goods. Cutting the deficit gradually through spending restraint alone is much better than a quick cut via tax increases. There is no economic crisis requiring a crash effort. In fact, a crash is what we may get if we allow Washington to use the S&L bailout and other temporary factors as an excuse to burden the economy with permanently higher taxes to support more government waste. Il can call: Spanish, Chinese, Korean, Vietnamese, Cambodian, Laotian, Thai, and hearing impaired, Everyone who lives in the United States is given the opportunity to be counted for their sake, their childrens future and their communitys well being. Were You Counted? CENSUS 90 that you (or anyone else in your household) were NOT counted, please fill out the form below and mail it IMMEDIATELY to: If you believe I have checked with the members of my household, and I believe that one (or more) of us was NOT counted In the 1990 census. On April 1. 1990, 1 lived at (PLEASE PRINT) PLEASE INCLUDE All family members and babies. and other relatives living here, including foster children boarders, roommates, and other persons living here. persons who usually Itve here but are temporanly away on a business tnp, on vacation, or in a general hospital All persons with a home elsewhere but who stay here most of the week while working or attending college. Anyone staying or visiting here who had no other home All lodgers, anti-grow- th All AD persons in the Armed Forces who bve here. boarding schools below the college level. All children in DO NOT INCLUDE Any college student who lives somewhere else while attending college. such as Any person away from here in the Armed Forces or in an institution a nursing home, mental hospital, or prison. Any Any person who usually stays somewhere else most of the week while working there person visiting here who has a usual home elsewhere Stephen J. Entin is a resident scholar at the Institute for Research on the Economics of Taxation, Washington, D.C. Formerly, he was assistant deputy secretary for economic policy at the Department of the Treasury during the Reagan Administration. 1990, PM Editonal Services If more than 6 persons, list the additional persons on a blank sheet of paper and attach H to this form. Worlds Most Spectacular Sights a -- For the next 72 years, until April 2062, only sworn Census Bureau noone ebe wiH have access to your ndividual eensus quesbonnatc The collection of census nformaPonB authorized by a la (Tide 13. Unsed Stales Codel that protects the conMentahy of yout answers Ths law also repute that you furnish the information requested The Cantus Bureau estimates that, for the average household, thaformwiD take 3 minutes to complete, including the time for reviewing the instructions and answers Comments about this estimate should be deeded to the Associate Director lot Management Services. Bureau of the Census, Washington, DC 20233, Attn CEN 90 and to the Office of Management and Budget. Paperwork Reduction Protect CEN 90, Washington, DC 20503 NOTICE Modern banking dates from the Banco de Rialto, founded in Venice in 1587. It accepted demand deposits and permitted depositors to transfer their credits by check. See St. Lucia QMBNo FORM 0607-062- Approval Expires Cut 073191 U S DEPARTMENT OF COMMERCE. BUREAU OF THE CENSUS along dotted line t Spectacular mountains, sparkling white sand beaches and colorful marketplaces where theres literally dancing in th streets: Youll find it all on one of le Caribbeans most dazzling tre sure island- sSt. Lucia. allenge 03S Visit Your Town 1 tour for someone your age who is visiting your town. Study this newspaper for ideas. Plan a two-da- y Across and down By Norma Namely Speaking t i i f Steinberg Clip photos of interesting things to see, tourist attractions, parks and recreation areas. Look through the ads for ideas for shops and restaurants to visit. the Pitons are St Lucia's most famous landmark. The mountain jus splendor of the island's lush ini erior is wonderful to explore by car See breathtaking valleys studded with coconut palm trees; dine at a working plantation on delicious creole dishes; explore rain forests; see historic barracks and forts. Relax on tropical beaches that are among the worlds most beautiful. You can tour the islands beautiful coastline by boat. Visitors to St. Lucia may choose from a wide variety of accommodations, including luxurious resort hotels, spas, quaint guest houses and beautiful private villas, many of which have breathtaking views of the sea. Visit quaint fishing villages on the coast. Every Friday night, the sleepy fishing village of Gros Islet in St. Lucia comes alive and transforms into a joy ous festival combining the atmosphere of a carnival with a street fair. Buy items you wont see anywhere else, including splendid wood carvings, pottery and individually waxed and dyed batik cotton fabrics that can be framed as exotic wall hangings. Visit Point Sera-phinan elegant, duty-fre- e shopping center built right on Castries Harbor, with over 20 attractive shops situated around a Spanish-styl- e Be alert for entertainment possibilities festivals, concerts and movies. might even want to take your friend to a garage sale the classified ads to find several that look interesting. You ... so check After you have mapped out your two-da- y plan in the space below, ask your parent, guardian or other adult for any ideas you may have missed. Day 1 Morning Afternoon (( Evening 1 Head, heart, hands, and hea'th group 6 Turn over a new 10 Equitable 14 Remove a knot Day 2 from Morning e, Afternoon 15 Gymnast Korbut 16 Canyon reverberation 17 Supporter of unification?: 2wds. courtyard. Evening 19 Whole lot 20 Singer Kabibble 21 Pieces of computer data 22 Cellist Pablo 24 Diminish, as the moon 25 Color for baby girls, traditionally 26 Sideways 29 Golden anniversary 33 Dinah of Dinah I 34 "Little" comics girl 35 Challenge 36 Hang-glid- e i ifcOMim 37 Christmas song 36 Slip a mickey to 39 Author Stanley Gardner 40 Sword handle 41 nez (old- fashioned glasses) 42 Hollywood substitutes 44 Gretel's brother 45 John Paul M's -- title 46 1980 Wimbledon winner Bjorn 47 Salad stuff in 50 Good-byEngland 51 culpa Scotia 54 55 Man who needs reassurance?: 2 wds. 58 plaisir (with pleasure) Fr. 59 Evangelist Roberts 60 Berts Sesame Street pal Off to See 61 the Wizard" 62 Throw lightly 63 Mails OWN 1 Japan's highest mountain 2 Responsibility 3 Salt Lake state 4 5 Plant related to -- Tin-Tin nightshade 6 Threepenny Opera's Lenya 7 Wallach and Whitney 6 "Long and Far Away" 9 Whimsical 10 Practical joker?: 2 wds 11 Home of the Bruins: Abbr. 12 Cartoonist Silverstein 13 Hauls away, as from a "No Parking" zone 18 "You seen nothin yet!" 23 Termite 24 Tolstoy fan?: 2 wds. 25 Cockpit commander 26 Donkeys 27 Blown fuse reason 28 Australian teddy bear" 29 Rolls up, as a flag 30 Makes money 31 32 34 37 41 43 44 Cease-fir- e I f f f 19th-centu- ! German philosopher Singer Frankie Approach stroke to the green: 2 wds. St. Patrick's Day events Quixote Table d' ) (preselected dinner) 46 Saves a leaking boat 47 Chew (on) 48 Wander 49 At any time 50 the night before Christmas ..." 51 Duluth's state: Abbr. 52 Oklahoma city 53 Years and years 56 Gold. in Madrid 57 Mine output , I |