Word: billioned
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Dates: during 1950-1959
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First off, he decided that the $1.7 billion pork-barrel rivers and harbors bill did not measure up to being reasonable, even though Congress had tried to pretend that it was an important antirecession remedy. Among the 154 projects in the barrelful, 28 costing $350 million looked like fat bacon. Example: one section of the bill laid out $269,000 to be spent on the lower Potomac River near Hull Creek, Va. to build a harbor for 41 small boats and 42 skiffs. Army engineers tagged the job uneconomical; the Virginia state government, by failing to promise matching funds...
...other big appropriation on his desk was the $7.2 billion highway bill. Eisenhower didn't like its dimensions very well either. He had wanted to speed up highway spending by $2.2 billion over the next four years, but the Democrats had pumped this up to $1.8 billion in the next fiscal year alone. Far more serious, in the President's eyes, was the fact that the bill abandoned the established principle that states should pay 50% on primary and secondary highways, provided instead that they should only pay 33¼%, and that the Federal Treasury should advance that...
...I.D.A. would be capitalized at $1 billion, with the United States contributing $300 million of this total. The original investment would be used by the sixty nations that now comprise the IBRD to purchase voting stock in the new agency. Later, countries might buy non-voting stock with "soft currency." This practice, Monroney says, will enable the United States to dispose of some of the foreign currencies that will accrue to it from the sale of farm surpluses...
...equipment and exploration this year, up $14 million from 1957. About 65% will be spent at home, though Socony gets only 40% of its earnings in U.S. Company expects free-world consumption of oil to increase by at least 50% within decade and industry will have to invest $115 billion to meet...
...people each year, and the prosperity curve follows right alongside the population curve; 2) family income, even after taxes, is at an alltime high of $5,300, is expected to pass $7,000 by 1975, and individual savings are at a record level of $340 billion. Among the ads: the picture of a stork perched on its nest to illustrate population growth ("This Bird Means Business"), a shot of a homeowner on the site of his new house ("There's a New Wave of Opportunity Coming...