Supreme Court backs federal coal land rules in Illinois case
The Supreme Court upheld the constitutional reach of federal surface mining law, backing Mine and Minerals stance while prompting new challenges as enforcement begins. Illinois faces continued battles with coal operators over land restoration and forfeited bonds, with potential funds to aid landowners. The searing case centers on the New Burnside family and other communities seeking restitution.
MENTIONED IN THIS ARTICLE
Illinois
Supreme Court
Department of Mines and Minerals
Indiana
Congress
Burnside
Johnson County
Nelle
Walter Schell
Western Mining Corp
Portland
Western
Schells
Robert Winchester
R-Rosiclare
James F. Rea
D-Christopher
Mines and Minerals
House Budget Committee
U.S. Supreme Court
Reagan era economics sparks global caution and fear
A Basel report on the world economy criticizes the Reagan administration for relying on high interest rates and neglecting balanced budgeting. It warns of a looming global mood drop akin to 1929 if policies continue, noting 1982 deficits near 48.8 billion and calls for fiscal restraint to avert disaster beyond U.S. shores.
MENTIONED IN THIS ARTICLE
Bank For International Settlements
Basel
Switzerland
Illinois
Reagan
U.S
New York
Washington
World Bank warns of strain from US monetary policy
The Bank for International Settlements warns that Reagan era high U.S. interest rates threaten global economic cooperation, raise currencies' borrowing costs, and worsen inflation fighting abroad. It urges reductions in deficits, fiscal fixes, and wage restraint to ease monetary pressure.
MENTIONED IN THIS ARTICLE
Paul‘ Lewis
New York Times
Basel
Switzerland
Reagan
Bank For International Settlements
United States
Federal Reserve System
America
The
Bank
Germany
Washington
Britain
West
Europe
Organization For Economic Cooperation and Development
Paris
Fed vows no relief from inflation driven rates
The Federal Reserve and European officials trade concerns over high U.S. interest rates harming Europe. Anthony Solomon cites slower money supply growth and changed fiscal policy as reasons inflation may ease, while warning against complacency as latent inflationary pressures persist.
MENTIONED IN THIS ARTICLE
Michael Quint
New York Times
United States
Anthony M. Solomon
Federal Reserve Bank of New York
Fed
Solomon
New York
Indiana tax revolt cripples local revenues in Portage
Portage Indiana faces sharp budget cuts as a state property tax freeze and inflation squeeze local revenues. Schools lose staff and programs, with 25 of 45 aides cut and plans for sports arts and summer programs halted. Police and fire staffing may be reduced. sidewalks delayed amid federal aid cuts and shift to block grants. Local leaders blame state control for reduced funding and predict worsening conditions.
MENTIONED IN THIS ARTICLE
Ain Street Indiana
Indiana
California
George McKay
Barr Fritz
Portage Highchool
John B. Williams
Williams
McKay
Fritz
Also Mentioned on This Page
Southern Illinois
France
Paul A. Volcker
Federal Reserve Board
Federal Reserve
Treasury
Jack W. Germond and
Jules Witcover
Portage, Ind
Portage
Chicago
Otis Bowen
Bowen
Fritz Say
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