Word: billioned
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Dates: during 1950-1959
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...boom eased in the U.S., it was also easing around the world, bringing a drop in the demand for U.S. goods. The record dollar value of U.S. exports ($19.5 billion in 1957) and imports ($12.7 billion) may slip less than 5% in 1958. One of the major battles of 1958 will be over U.S. tariff walls and reciprocal trade pacts, with traders insisting that the U.S. does not buy enough and protectionists insisting that it buys too much. Yet in 1957, an encouraging answer to critics who say the U.S. does not trade enough was the case of foreign automakers...
...start, Defense Secretary Neil McElroy intends to boost defense spending at least $1 billion in the first six months. For fiscal 1959, there will probably be another boost of at least $2 billion (to $41 billion for actual defense spending), plus a $5 billion boost in the obligational authority for future defense contracts. The Administration hopes to hold down the totals by cutting such items as the farm program and aid to veterans, but few politicos think it will be successful. If anything, spending on the farm program-a huge $5 billion in 1957-may rise in 1958 to keep...
Since 1946, missile spending has skyrocketed from $70 million to $3 billion annually. But in actual fact, the U.S. intermediate (IRBM) and intercontinental (ICBM) missile programs are still in the experimental stages. Intermediate missiles alone may cost the U.S. $7 billion; the bigger, 5,000-mile Atlas ICBM will cost $8 billion to $10 billion in the next decade or so before it is superseded by something better. And missile programs themselves will get bigger and more expensive...
Totting up the bill for the next ten to 20 years, defense experts estimate that arms will probably rise $3 billion each year for the next seven years at least, since the economy must produce not only missiles but conventional arms. At year's end a group of eminent scientists urged that the U.S. spend at least $1 billion annually on space research alone...
...Anti-missile missile-$6 billion to $7 billion...