Word: billioned
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Dates: during 1950-1959
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...President's decision represents a compromise of sharp differences of opinion inside the Administration on how the U.S. foreign-aid program ought to be modified. Nearly everybody is agreed that the U.S. has to get out from under its lonely foreign-aid load (estimated 1959 spending: $5.5 billion) in one way or another. The President backs Treasury Secretary Robert Anderson's concept that the U.S. ought to join with prospering Western allies to create a pool of foreign-aid capital clearly identified with free nations. He has approved Anderson's plan for a new International Development Association...
Dwight Eisenhower's 146th veto message whirred through the White House Mimeograph machine one morning last week before Congress had even sent him the bill to be rejected: the $1.2 billion rivers and harbors appropriation, almost exactly the same old vote-catching "pork barrel" smashed by the 144th veto two weeks earlier. This time, Ike knew, Democrats were dead certain that they could muster the necessary two-thirds to override-and end-the remarkable string of unbeaten Eisenhower vetoes...
Since 1957, Government budgeting for manned aircraft has slid from $8.4 billion to $6.6 billion; missile procurement soared from almost nothing a few years ago to $3.9 billion this year (see chart). Within five years, the split will be fifty-fifty...
...billion-a-year aircraft-manufacturing industry, fifth biggest in the U.S., is troubled and worried. Despite enormous backlogs of orders, most companies feel insecure, not only about the future but also about the present. Warned United Aircraft's Chairman H. M. ("Jack") Horner: "All of our military business is in jeopardy." What has put it in jeopardy is the change that missiles have brought to the industry. They not only promise the end of manned military bombers and fighters, but have brought such other lightning changes that huge projects, calling for hundreds of millions of dollars, can be made...
...Lockheed's Chairman Robert Gross pointed out that in 1946. when Lockheed began to sell its Constellation, the company set a sales goal of 135 Connies as the break-even point "and prayed for the best." All told, Lockheed sold 856 Connies for more than $1.5 billion-and a fine profit...