Word: billing
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Dates: during 1950-1959
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...drinks and chats, or to ride with the President in his plane. To Capitol Hill came many a warm letter, thanking legislators for help, that was signed "D.E." Arizona's conservative Republican Senator Barry Goldwater, who alone in the Senate had voted against the relatively mild labor-reform bill sponsored by Massachusetts Democrat John Kennedy, was tickled pink when Ike confided: "If I'd been in the Senate, I'd have voted with you." Last month, when labor-reform legislation was at bitter issue in the House, Ike went on radio and television to urge a strong...
...built up a remarkable record of making his vetoes stick: of his first 143 vetoes. Congress failed to override a single one. Last week, just before he took off for Europe, the President jeopardized his perfect record with Veto No. 144. Turned down: the lardy, $1.2 billion public works bill, more popularly called "the pork-barrel bill." Objected Ike in his veto message: the bill included 67 new projects not listed in his budget. These projects would add only $50 million to outlays in the current budget, but "their ultimate cost wall be more than $800 million. This illustrates...
...turn was applied by the House Ways & Means Committee, which voted to kill a bill giving the President authority to raise the interest-rate ceiling on long-term Government bonds above the present 4½. This will force the Government to do more of its financing through short-term borrowing (under five years), on which there is no interest ceiling. Result: the Treasury will have to compete with consumers and small businessmen for short-term funds, thus placing pressure on fhe money market, forcing up short-term interest rates...
...Treasury must refinance $34 billion in the next twelve months and come to the market each week with $1,000,000,000 or more in bill offerings. Last week the interest rate that it has to pay on short-term (gi-day) bills rose to 3.4%, the highest since the fall of 1957; it may go up to 4%. What the Treasury fears most is that its dependence on short-term financing will force yields on short-term paper above yields on long-term bonds, thus attracting many investors who might ordinarily put their money in long-term securities...
...their money in savings accounts, people are attracted by higher returns in the stock market or Government bonds. The rate of growth of time deposits has been falling off because corporations, state and local governments, and foreign depositors can now get nearly 3½% on a 91-day Treasury bill v. 3% on time deposits...