Word: billioned
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Dates: during 1950-1959
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...fiscal 1960 budget, from the White House came hopeful reports that spending and revenue estimates were nearing a balance. A new postal rate increase, which the Administration hopes to get, would put revenue at about $77 billion, as against spending plans pared to about $78 billion (including a defense budget just about firmed at $41.5 billion). Still under consideration: requests for a 1½? increase in the federal gasoline tax and a hike in the aviation gas tax. If the budget could be brought into balance, President Eisenhower would achieve what seems to be his fondest domestic hope...
...other businessmen the sales news last week was also good. The Commerce Department disclosed that independent wholesalers' sales hit $11.2 billion in October, up from $10.3 billion in September. It was the second consecutive month in which wholesalers surpassed 1957 sales. Retailing news was just as good. In October retailers racked up $17 billion, back all the way to pre-recession records...
...rising sales have checked the drastic cutting of inventories, one of the heaviest pressures on the economy. Manufacturers' inventories of finished goods in October held to the same $48.9 billion level as September, the first month since August 1957 that manufacturers did not cut stocks. Instead of living off their stocks, as they had been for a year, businessmen were stepping up their buying again. One immediate result was a lessening of unemployment. The Labor Department reported that employment picked up in most of the nation's major industrial centers last month. Six areas were removed from...
FOREIGN INVESTMENT guarantees, by which Government insures private U.S. investments abroad against expropriation or war (TIME, July 28), are due for big expansion. Administration will ask to boost maximum Government coverage from $500 million to $1 billion; Congress is favorably disposed because program, instead of losing money, actually has put $3,000,000 in Treasury...
...million in only ten years. Says Revell's 41-year-old President Lewis H. Glaser: "Assembling models is the nation's leading hobby. It even beats stamp collecting." This year total model kit sales will account for $75 million of the $1.5 billion spent on toys. Among Revell's new models for Christmas buying: a three-stage manned rocket to the moon (price: $1.98) and a Jupiter-C intermediate-range missile (price $1.98). To attract girls, there will be $1.98 life-size models of Walt Disney's squirrel Perri, a tiny koala bear and a beagle...