Word: billioned
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Dates: during 1950-1959
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Defense Spending. The White House announced that procurement orders would be placed at an average rate of $2.3 billion a month in 1958's first half, nearly double the pace of 1957's last half...
Whether the Democratic Congress goes for tax cuts or public works or, as is most likely, a generous combination of both, the price will be a huge budget deficit. With the recession pushing federal spending up and revenue estimates down, a fiscal 1959 deficit of $5 billion or more already looms. Tax cuts or massive new spending could easily mean a red-ink splash of more than $10 billion, biggest since...
...upon the Administration to speed public-works spending on previously authorized projects. The vote: 93 (including 46 Republicans) to 1 (New Hampshire Republican Norris Cotton). Actually, the Administration's public-works speedup was under way without the help of the Johnson resolution. ¶ The Senate passed a $1.8 billion housing bill, 86 to 0, with 44 Republicans supporting the measure authored by Alabama Democrat John Sparkman. At one point Democratic politics came through loud and clear, when the Democrats tried to knock out a provision permitting an increase of interest rates on G.I. loans from...
...nation is ripped and razed, leveled and linked with freeways, toll roads and a 41,000-mile, $40 billion interstate highway system that represents the greatest road-building program ever undertaken, hundreds of thousands of U.S. citizens are having their lives abruptly changed-but not always with the gentle touch of a fairy godmother. Cities and towns are slashed up the middle. Quiet neighborhoods become the home of screeching tires and carbon monoxide; farmlands are sliced into pieces that can no longer be economically worked. The uprooted may agree with Seattle Art Dealer Zoe Dusanne, whose home and gallery overlooking...
...Commerce Department announced that personal income had edged down (though still above that of a year ago), and the Securities and Exchange Commission revised its estimates of capital expenditures for new plant and equipment. Last December SEC estimated that plant expansion, roaring along at a rate of $37.5 billion in 1957's final quarter, would taper off to $35.5 billion in first-quarter 1958 as many industries approached their expansion goals. Now it forecast a first-quarter rate down to $34 billion. Second-quarter estimate: down another $1.5 billion to $32.5 billion, with some pessimists even predicting a further...