Word: billioned
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Dates: during 1950-1959
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...election-year splash of generosity, the Senate last week passed a $2.5 billion omnibus housing bill, about $1 billion bigger than the President requested. Piled atop the antirecession housing program enacted earlier this year, the new measure (which the House will probably trim a bit) brought the Senate's total 1958 housing appropriation to a dizzying $4.3 billion...
From Little to Late? But the Dutch, the Scandinavians, and above all the British, with their slowed-down economy, are less sure that they can avert a deeper slide. Tough, restrictive policies in Britain saved the pound (Britain's reserves climbed last week to $3.1 billion, highest since 1950), but they held down inflationary pressure so much that Tory leaders must now worry about the threat from the opposite direction. Like the rest of Europe, the British have so far reaped the benefits of the 15-20% fall in world commodity prices since last year. But some raw-material...
Victims of Illusion. By hitting Japan economically, where it is most sensitive (Japan's trade deficit was $1.4 billion last year), the Chinese Reds hope to stir up opposition to Premier Kishi and support for Peking-Tokyo trade. The Reds glibly dangle the bait of "600 million customers" before the eyes of Tokyo businessmen, although experience has shown that neither Communist China nor Japan has any great desire to buy the kind of consumer goods the other has to sell. Japanese businessmen also soon discover that they can deal only with state-owned Communist trading corporations rather than...
...Yale School of Medicine and lately boss of Army medical research, the committee concluded that things are pretty good now, but the explosive expansion of the last decade in outlays for medical research must go on at least until 1970. The goal then: $900 million to $1 billion a year. In effect: no blitz, but a powerhouse drive down the field...
...close to 700,000. Long-distance phone calls rose by 4% during the first half. Together, the two gains helped wipe out the first-quarter downturn in earnings. Net profits for the second quarter totaled $233 million, v. $214 million for the same quarter last year. Revenues were $1.66 billion, v. $1.57 billion last year. Said President Kappel: "While our current rate of gain is lower than in the last few years, nevertheless it is still substantial. We are confident, too, that growing America will continue to want, buy and use more telephone service tomorrow than today...