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Such policies mean the slashing of government budgets, leading to cutbacks in spending on health care and education.
In New Jersey, Gov. Jim Florio, at the start of a four-year term, has proposed $1.4 billion in tax increases and sharp cutbacks in spending.
Cutbacks in spending on information technology in the United States were even sharper than expected this year and will continue to drag on the economy in 2002, the Giga Information Group, a market researcher, said.
Joseph W. Ostrow, president of the Cabletelevision Advertising Bureau, said that if a recession led to cutbacks in spending on advertising, "I could even argue the point that cable would get a bigger share of a diminished pie" because of the growth in cable network ratings.
Its cutbacks in spending since then have fallen more heavily on foreign than on domestic production.
Before Friday, it was unclear whether cutbacks in spending by businesses extended to jobs.
Similar(30)
In the circumstances, an increase in interest rates could easily provoke a damaging cutback in spending by nervous consumers.
But the government's cutback in spending on state enterprises has left people struggling to meet the expensive outlays for the elaborate feasts associated with the Tet holiday.
The article cited a cruise operator that had filed for bankruptcy protection, and then said that even companies that were not close to the edge were imperiled by consumers' cutback in spending.
The company also blamed the cutback in spending by consumers for retail items.
He noted that the cutback in spending would affect print and digital revenue in the third and fourth quarters.
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CEO of Professional Science Editing for Scientists @ prosciediting.com