Word: billioned
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Dates: during 1950-1959
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...pushing defense strategist said that he had found a willing listener. It was after he flew to Texas and talked with Senate Majority Leader Lyndon Johnson, he explained, that Congress appropriated an extra billion dollars for the Air Force. Said Arthur: "The day Congress acted, Johnson phoned me and said, 'Arthur, this is a billion-dollar phone call, and now you stay out of Texas. You've cost the taxpayers a billion dollars.' I told him, 'It will cost $4 billion a year to run this right, so you've done...
...Booming Recession. Getting down to specifics, the forecasts hardly looked like a "recession" at all. Prices will probably go up 1%. Gross private investment is expected to decline some 5%, and corporate profits will be lower: some $41 billion before taxes, or about 3% less than 1957. But gross national product will stay level at this year's record $439 billion, and industrial production, as measured by the Federal Reserve's index, will only slip 1.5% or 2%, a barely noticeable drop compared to the 5% or 6% decline the U.S. experienced during the so-called 1954 recession...
Narrowing the focus still further, Economist Dexter M. Keezer, director of the McGraw-Hill Publishing Co. Economic Department, predicted that house building, down this year, will rise 10% to a total $16 billion in 1958, balancing in part a 7% decline (to $34.5 billion) in plant expansion. And by 1960-"perhaps before," added Keezer-"investment in new plant and equipment will be heading for another record...
...than ever before. Institute of Life Insurance says that savings accounts, insurance policies and U.S. savings-bond holdings of average American household hit $5,100 at midyear v. $5,000 in 1956 and $4,000 in 1950. In 1957's first half, U.S. total swelled by nearly $9 billion to total of $253 billion...
SURPLUS-DISPOSAL program, whereby U.S. sells excess farm goods for foreign currencies, will be extended one year beyond current cutoff date of next June 30. Administration expects congressional approval to ship goods worth at least $1 billion. Money will be used in foreign aid or to pay for running U.S. agencies abroad...