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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 28, 1981
Page
6
Webster County leaders debate limiting industrial revenue bonds to U S firms amid Potash Corp of Saskatchewan project. Labor groups oppose aiding a Canadian company using nonunion labor and out of state contractors, while proponents cite local jobs and economic ripple effects from the potash plant.
The piece argues states should curtail industrial revenue development bonds for foreign firms or Congress may step in. It notes tax revenue losses from tax free IDR bonds, their two thirds of prime rate, and asks when financing private enterprise serves the public good. It cites a $1 billion annual federal loss, rising to $4.4 billion in 1986, with debates expected to intensify in 1982.
A AP NBC poll of 1600 Americans shows 76 percent expect U S involvement in a future war while most are not paralyzed by fear. Sixty six percent approve Reagan handling of the Soviets and draft reinstatement gains support though opposition remains.
Readers debate pro life and pro choice charges with requests for named proponents and reasons behind caring for born life. A UCLA NCAA probation critique argues the punishment is too harsh and questions fairness versus Iowa or Iowa State scenarios and praises UCLA coaches.
The Dallas Arlington GM plant plans to lay off 900 of 4500 workers on Jan 4 as regional housing starts fall to postwar lows. Airlines Braniff and American cut 670 jobs, Bell Helicopter shed 1200, reflecting a broad Sun Belt downturn in 1980 with overall city frustrations echoed by Arlington Mayor Stovall.
The piece notes October’s quiet milestone as the national debt tops one trillion dollars with a playful calculation of what a trillion dollars in one dollar bills would measure in miles and driving time. It emphasizes the abstract nature of large numbers and the impracticality of grasping the scale.
A satirical summary critiques federal finances, debt, and government spending. It notes high national debt per person, interest costs far exceeding old appropriations, and calls out congressional allocations and nonessential functions while mocking the president and Congress as persistent budget players.
Periodic observations from thoughtful Eastern Iowans invited to express themselves here. The topics are unlimited. The views are theirs.
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