Word: billioned
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Dates: during 1950-1959
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...where to make further cuts (the $50 million college-classroom program, a spread-out in the spending of $650 million urban renewal funds), but retained some of the Ike-disliked features (a $50 million program to build homes for the elderly, extra public-housing starts) in a $1 billion bill that is still high ($200 million above budget) but less than half its original Democratic size...
...Extended in a House-Senate compromise the Public Law 480 authority ($1.5 billion a year) to sell Government-owned surplus farm products abroad (often for soft currencies) for another two years. Authorized but not required: a start on an Administration-opposed food-stamp scheme for delivering $500 million worth of surplus to the U.S. needy...
...asked for 1½?) to finance the fund-short, 41,000-mile highway program. Result: the gas tax goes to 4? Oct 1. ¶Rejected again the Administration demand for abolition of interest-rate limits on Government bonds, thus left Treasury unable to manage the $290 billion public debt effectively in today's high, changing money market (see BUSINESS). In a minor concession, a House-Senate conference boosted the 3.26% ceiling on popular E and H savings bonds to 4.25%, thus permitting Treasury to credit outstanding savings bonds with 3.75% interest retroactive to June...
SHIP-CONSTRUCTION BONDS guaranteed by U.S. will be marketed by American President Lines to aid in building two 13,250 D.W.T. cargo ships. First of its type, the $14.4 million offering is expected to lead way for $1 billion in new maritime bonds...
...months in the 1953 slump, 16 months in the 1948 slowdown; personal income recovered peak levels in 14 months v. 16 months in the other two postwar recessions. Last week the Commerce Department announced that spending for new plant and equipment will hit an annual clip of $35.4 billion in the fourth quarter (against a 1957 peak rate of $38 billion and a 1958 slump low of $30 billion); many crystal-bailers see a pace close to $40 billion in 1960. "Here's what will happen next," says Vice President Russell H. Metzner of Cleveland's Central National...