Word: billion
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Dates: during 1950-1959
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...year job, Herb York will need all the wit and vision he can muster. By title, he will be Defense Secretary Neil McElroy's Director of Research and Engineering, will have supervisory control over the $2.5 billion Defense Department scientific projects-but no scientific budget of his own. Enmeshed in the program are all the stubborn duplications, fears and rivalries of different services whose planners and dreamers demand a separate piece of the wild-blue-yonder projects. The Air Force, for example, got miffed at ARPA when ARPA's Johnny-come-lately Boss Roy Johnson took much...
...reason: the veterans found the way home paved with every comeback aid the nation could provide. The G.I. Bill of Rights and related laws offered what one vet calls a "bonus in advance," the most lavish assistance program in history (total Veterans Administration spending since 1946: $72 billion). Most important, the aid was given when and where it could help a man re-enter competitive society. U.S. Employment Service set up a nationwide job hunt. The VA guaranteed $50 billion worth of low-interest loans to help buy 5,700,000 homes, 73,000 farms, 237,000 small businesses. Riding...
...Aided by financing and free education, veterans quickly overtook nonvets their own age in earning power (from 15% behind in 1946 to 19.5% ahead in 1956). G.I. education boosted incomes enough, reckons the VA, to pay back its $14.5 billion cost in extra income taxes by 1970. Vets not only caught up on the old standard of U.S. living but became a mighty force in kicking off the postwar boom in consumer durables by founding the new suburbs, filling them with TV sets, home dryers, cars. Cartoonist Bill (Up Front) Mauldin, like many of his lesser-paid buddies, now treats...
...economy. If anything, Canada's recession was milder than the slump in the U.S. Except in the winter months, unemployment hit a smaller part of the working force in Canada. Industrial production sagged less sharply, recovered earlier. At year's end Canadians added up a new $32 billion record for Gross National Product...
Proud of the boss for his work on the President's proposed $77 billion budget for fiscal 1960, the staff of Budget Director Maurice Stans teamed up, gleefully gave him a football jersey, symbolically labeled (in black...