Word: billioned
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Dates: during 1950-1959
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HOUSE WAYS & MEANS CHAIRMAN WILBUR MILLS: "The question should be raised as to whether an expenditure or a service deemed to be desirable within an overall budget of $20, $30 or $40 billion continues as a desirable, justified expenditure as a part of an $80 billion budget . . . Consistency requires that Government programs be evaluated in terms of what must be given up by the increased taxes necessary to pay for them." Parallel path to an eventual balanced budget is stiffening of taxes in areas where the collector's touch is lightest (insurance companies, oil depletion allowance, farm cooperatives...
...that some farmers at once embrace the new farm technology which multiplies crop production, and demand a structure of Government price supports and other benefits and services which, at an annual cost to the American taxpayers of between $7 and $8 billion, is exceeded only by defense expenditures and debt service...
...losses ranging from 5 to 42 points. It was the second largest number of issues traded in one day in stock exchange history (largest: 1,290 issues on Jan. 5, 1955). At day's end the market closed off 14.68 on the Dow-Jones industrial average, and $6.7 billion was wiped from the paper value of stocks on the exchange...
...have textiles sagged during "normal" times? One reason is that the industry is a clutter of 500 manufacturers, many of them small, inefficient and hampered by outdated machinery. Though the industry invested $4.4 billion in new plants and equipment during the past decade, an estimated 65% of its machinery is still obsolete. Unlike the automobile or steel industry, the textile industry has no real giants to set the pace in modernization. The largest textile company, Burlington Mills (fiscal 1958 sales: $651 million), has only 5% of the industry sales. All the manufacturers are fiercely independent, have never joined...
...American male to take as intense an interest in his own clothes as he does in his wife's apparel. If the average U.S. man spent as much of his income on clothing today as he did in 1929, sales of textile products would soar by some $3 billion a year...