Word: billioned
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Dates: during 1950-1959
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...Congress last week: ¶ The Senate and House passed and sent to the White House a military money bill of $39.2 billion, which fell short of Administration requests by only $19.9 million but notably revised some of the Defense Department's strategic planning. Specifically, Congress added $85 million to start boosting the U.S.'s intercontinental ballistic missile squadron strength from nine to 17, also $87 million to speed development of the second-generation, solid-fueled ICBM Minuteman. The Administration had wanted $260 million for a steam-powered aircraft carrier, but Congress said no, instead put up $35 million...
...what seasoned Listener Lubell found on a seven-week trip through farm country in Iowa, Minnesota, Kansas, North Dakota and Wisconsin. Lubell's basic finding: the Midwest's farmers, who once had firm opinions about federal price-support programs, are now as baffled by the massive, $7 billion-a-year farm-glut scandal as the experts, the Eisenhower Administration and Congress (TIME, March 2). "Not a single farmer," Lubell reported last week for United Feature Syndicate, "could offer even a crackpot solution to the surplus problem." And a "sizable majority of farmers confessed they thought there might...
...Sahara's wealth is not confined to oil: southeast of Tindouf lies what may prove one of the world's largest iron deposits (an estimated 2 billion tons of better-than-50% ore), and below the coalmining center of Colomb-Béchar geologists have found a lode of manganese capable of yielding 50,000 tons a year. Today the great cost of transporting them out of the Sahara excludes exploitation of these heavy ores. But Soustelle, firmly if vaguely, continues to talk of the day when "we shall see materialize in the Sahara...
Much of the furor over soaring enrollment sounds as if U.S. colleges and universities might go broke by 1968 trying to handle some 6,000,000 students each year. Not so. says the Council for Financial Aid to Education. The monster invasion will indeed cost a staggering amount -$11.5 billion for new buildings and equipment alone in the "crisis" decade 1957-67. But the council found "grounds for hope that we are at last approaching a breakthrough." Main evidence: construction has consistently matched rising enrollment. Since 1955, colleges and universities have apparently been able to spend some 20% more...
...continuing to increase came last week from the Federal Reserve Board. It announced that consumer installment debt in June rose by $452 million (seasonally adjusted), the largest addition for any month since September 1955. The June increase raised total outstanding consumer installment credit to a new high of $35.8 billion...