Word: billioned
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Dates: during 1950-1959
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Public Works. The President asked Congress for an extra $257 million for reclamation, flood control, hospital construction and other public works. With both parties agreed on speeding up the federal-state highway program, the Administration sent to Capitol Hill a proposal to put an additional $2.2 billion in federal money into the program over the next few years. The Senate Public Works Committee voted an even more souped-up highway bill. The House passed a hog-fat rivers and harbors (pork-barrel) bill...
Housing. With nary a nay, the Senate okayed a pump-priming Democratic bill authorizing an additional $1.8 billion in federal housing loans, as reports showed private housing starts had fallen from 64,200 in January to 60,000 in February...
...Navy's Polaris-nuclear-submarine network, geared to launch missiles from underwater stations at 1,500-mile range; estimated cost: $7 billion...
...Force's projected second-generation 3,000-4,000 Minuteman missiles (TIME, March 10), which, when launched from underground hangars, could blast city-sized holes from distances of 500 to 5,500 miles; estimated cost: $3.5 billion...
...banks fell below the year-ago level. One reason for businessmen's caution was that a fresh batch of Government statistics showed somewhat more gloom than cheer. Manufacturers' sales for January dropped by $400 million, new orders slumped by $900 million, and order backlogs dipped by $1.6 billion - the 13th straight monthly decline. Manufacturers' production went down even faster than sales. Result: inventories were cut $600 million in January v. $300 million the month before...