Word: billioned
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Dates: during 1950-1959
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Able by their arms to intimidate civilian authority, brass-hats have spent some $2.5 billion on munitions since World War II-more, in most countries, than goes for health, education and development programs. The standing armies total 500,000 men and cost $1.4 billion a year...
...pinch is that from this position of strength the military demands disproportionately costly and often unsuitable tools for the job. Brazil has spent $2 billion on its armed forces in the past six years v. $1.6 billion for all public works and development programs. The refurbished carrier Minas Gerais (once H.M.S. Vengeance) will cost $36 million, enough to pave 3,900 miles of highway-and Brazil has no naval air arm to put aboard her. Argentina has spent $1 billion on defense since 1954. "Every time Ecuador buys armaments," notes Peruvian Foreign Minister Raul Porras, "we buy as much...
Americans spent an average of $95 each on medical care in 1958, the Health Insurance Institute reported this week. Breakdown (in billions) of the $16.7 billion total: doctors, $4.8; hospitals, $4.5; prescriptions and other medicines and appliances, $4.4; dentists, $1.7; miscellaneous (including private nurses, nursing homes, chiropractors, eyeglasses), $1.3. In addition, the public laid out $5.9 billion for health and hospitalization premiums, got back $4.7 billion in benefits. The insurance covered 123 million people for hospital expenses, in million for surgical, 17 million for major medical...
...Japanese had rebuilt their country so fast that they had been able to send $1.2 billion worth of investments overseas (including a Bank of Tokyo branch in Los Angeles), and had become a creditor instead of a debtor nation for the first time in history...
...Australians got the first substantial electric power from their giant Snowy River hydroelectric project, an endeavor so vast that its $1 billion price tag is equal to 20% of the entire national product of ten years ago. Another signal of change: an upsurge in immigration has brought 1,500,000 hard-working "New Australians," mostly from Europe, to back the "Old Australians" in a forced-draft development of their U.S.-sized continent...