Discount Rate Cut Sparks Fears of Double Dip Recession
The Federal Reserve lowered the discount rate from 4.5 to 3.5 percent in a bid to sustain the recovery amid fears of a double dip recession. White House aides say the economy remains nontechnical recession but the public sees it as such, as President Bush weighs fiscal stimulus in his State of the Union. The decision passed 6-1 with Wayne Angell voting no, marking the fifth rate change in a year.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Today
White House
Marlin Fitzwater
Bush
Wayne Angell
Inmates Will Get Some Cheer
Aiken County Detention Center inmates, about 168, will not go home for Christmas but will join in caroling and receive fruit and candy during Saturday visitations. Lt. Dan Edwins said only a few may be released on Christmas Eve or Day due to bond issues and pending cases, while a chaplain and church group will lead the carols and distribute bags of fruit and candy.
MENTIONED IN THIS ARTICLE
Aiken County Detention Center
Dan Edwins
Edwins
West May Recognize Commonwealth By The Associated Press
Moscow reports show Western states pledging recognition for the new commonwealth as President Yeltsin faces internal economic clashes. Moscow Mayor Gavriil Popov warns price liberalization could destroy Russia’s market system. Popov plans to resign by year end after clashes over privatization. NATO and the EC hint at rapid recognition of former Soviet republics as independent states.
MENTIONED IN THIS ARTICLE
Moscow
Boris Yeltsin
Kremlin
Yeltsin
Gavriil Popov
Popov
Commonwealth
NATO
European Community
Washington
Bush
U.S
Economy shows modest summer GDP gain amid recession fears
The U S economy grew 1.8 percent in summer GDP, with consumer spending and trade improving slightly. Analysts warn the gain may not prevent a possible recession in the October-December quarter as debate splits into three camps on whether recovery continues, stalled, or slid back into recession.
MENTIONED IN THIS ARTICLE
Washington
U.S
Aiken Mayor calls for economic diversification linked to SRS
Mayor Fred B. Cavanaugh told the Aiken Sunrise Rotary Club that the city must diversify its economy beyond the Savannah River Site and prepare for environmental cleanup regardless of site selection. He compared cleanup efforts to Hanford and urged strengthening the landscape ordinance and advisory committees while supporting controlled growth and storm drainage fixes.
MENTIONED IN THIS ARTICLE
United States
Aiken
Savannah River
Fred B. Cavanaugh
Aiken Sunrise Rotary Club
SRS
Cavanaugh
Cavan
Richard Garcia
Hanford
Richland
Wash
Retirement Benefit Change Could Help Ex-Lawmakers
The Budget and Control Board recommended a budget provision allowing ex lawmakers to buy into the state retirement system while still contributing to the legislative system. Eligible ex legislators would gain credit for time served, by paying 4 percent of new salary plus 10 percent of the current legislative salary per year to double their credit, with at least eight years of service required. Senator James Waddell supports clarifying current law though he cannot benefit due to age.
MENTIONED IN THIS ARTICLE
Columbia
Budget and Control Board
Exlawmakers
Carroll Campbell
Purvis Collins
Collins
James Waddell
D-Beaufort
Budget Board
Waddell
Classifieds and horoscopes amid a busy page
A compact fragment shows sections labeled 2B Classifieds 3B CONOR 11A Crossword 4B Dear ADDY 11A Horoscope 10A with reference to Bridge 35030 and related page notes amid a busy newspaper layout.
MENTIONED IN THIS ARTICLE
Bridge
Calohi AR
Csiedticecceus
Community contact list for readers
A contact prompt invites readers to share news by calling 648 2311. Names listed include Rebecca Broadwater Augusta Irene S Jones Thomson Mamie Kennedy Aiken Maggie Lee Salley Martin Atlanta Charles Smith Sr Augusta Winnie L Smith Milledge.
MENTIONED IN THIS ARTICLE
Rebecca Broadwater
Augusta
Irene S. Jones
Thomson Mamie Kennedy
Aiken
Maggie Lee Salley Martin
Atlanta
Charles Smith Sr
Winnie L. Smith
Milledge
Toys For Tots Drives Gather Support In Aiken
Aiken hosts multiple holiday giving efforts with a central Toys For Tots drop off at Coldwell Banker Houndslake Real Estate Office 920 Houndslake Drive open 8 a.m. to 6 p.m. through Dec 24. Donations must be new and unwrapped and stay in Aiken.
MENTIONED IN THIS ARTICLE
Toys
Aiken
Coldwell Banker Houndslake Realty
Houndslake Drive
Toys For Toys
Salvation Army
Also Mentioned on This Page
Carl Langley
West
The
Associated Press
Hitler
Brussels
Belgium
Mark Eyskens
Soviet Union
With
By Scott Webster
George Butler
Aiken Elementary
Aiken County
Lewis Grizzard
SpAvu Latta
OPUES
Nina J. Nndiffer
Aiken Jaycees
P.O. Box
Secret Santa
South Aiken Presbyterian Church
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