Word: billioned
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Dates: during 1950-1959
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Only five months ago President Eisenhower sent the 1959 budget to Congress, and it showed a slender surplus of $500 million. Last week Budget Director Maurice H. Stans guardedly forecast a 1959 deficit "in the general magnitude of $8 billion-$10 billion, according to present tentative estimates." But Washington skeptics see more realism in the red-ink estimate issued by the staff of the Congressional Joint Committee on Internal Revenue Taxation: a dizzying $11.1 billion. And even the Joint Committee's forecast may err on the cheerful side. It assumes...
Income of $66.9 billion, or $7.5 billion less than President Eisenhower's original estimate last January. But the Joint Committee took for granted a steady upturn in the economy's vigor during fiscal 1959, and not all economists are that hopeful...
Outgo of $78 billion, or $4.1 billion more than the President's January estimate. But Washington officials have conceded that 1959 spending might run as high as $80 billion. If it does, unless the economy perks up sharply during the twelve months ahead, the 1959 deficit could reach $13 billion or more...
...California Shipbuilding Corp., and wearing two hats, launched himself into a 15-hour-a-day, seven-day-a-week schedule. At Calship, Engineer McCone found ways to set production goals higher than anyone thought possible, saw to it that they were met. Result: Calship produced 467 ships worth a billion dollars. Since World War II's end he has taken over and built up a onetime iron works into the Joshua Hendy Corp., which operates a fleet of 40 to 50 tankers and cargo ships. To avoid conflict of interest with his AEC job, McCone has agreed to resign...
When Russia sent the first man-made earth satellite into orbit last October, said Mahon during debate on the $38 billion defense appropriation, "we became aroused, humiliated, angry, frustrated and determined. Now the anger has cooled and the determination has been blunted." From a "peak of awareness and urgency," the U.S. has backslid to ''the humdrum plane of complacency." And complacency is dangerous. "The Soviet threat to our pre-eminence in industry, science and military striking power is steadily increasing. We have long been accustomed to think of the U.S. as occupying an unchallenged and unchallengeable position...