Word: billion
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Dates: during 1940-1949
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Congress for once had given Harry Truman more money than he had asked. Inside the $15.5 billion defense bill which he signed last week was an extra item of $615 million to be spent in starting to build a 58-group Air Force. On this subject Harry Truman had been sharp and clear: he wanted the Air Force held to 48 groups. So with a brisk bit of juggling, he took what he wanted of the bill and left the rest...
...surpluses that would be forced on the Government (now calculated at $2 billion worth by the end of the next fiscal year), the bill provided that any of these foods liable to spoilage could be used in barter deals abroad. Failing that, they could be given to the school lunch program, to charities, or to the Indians. All they had to do was come...
...true that the Air Force, with its $1.4 billion B-36 program, was "putting all its eggs in one basket?" General Hoyt Vandenberg, Air Force chief, answered with figures. B-36s, he said, comprised only 5% (four groups) of the total of regular military aircraft. The Air Force also had eleven groups of other bombers (about 330 B-29s and B-50s), and some 33 groups of heavy and medium reconnaissance, fighter, troop carrier and other miscellaneous aircraft...
...account, in a 227-page report of a joint EGA-Department of Commerce mission. After spending ten weeks in Europe, studying methods of increasing European exports to the U.S., Taylor's committee came to one hardheaded conclusion: the U.S. must increase its European imports by $2 billion a year or its own exports will wither away and European living conditions will :all to a dangerous level. Unless this is done, he said in effect, much of the good accomplished by EGA (expenditures more han $7 billion to date) will be thrown away...
...short, sharp paragraphs, the report dispelled any idea that the dollar shortage is something new; it started 35 years ago and has grown steadily worse ever since. Between 1914 and 1949, America's exports exceeded her imports by $101 billion. This "socalled favorable balance of trade," said the report, was largely paid for by $68 billion in Government loans & grants to Europe and more than $10 billion in private gifts. These grants "have in effect been unconscious subsidies to American export industries" at the expense of American taxpayers. The subsidies could be eliminated, or at least cut, only...