Word: billioned
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Dates: during 1950-1959
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...miss record (TIME, June 22). As a salesman, succeeding rough-handed "Engine Charlie" Wilson, he did a brilliant job of persuading Congress to accept his budgets-and then some. Congress, in fact, gave him some $806 million more than he asked for. But he could not choose between proliferating, billion-dollar rival missile systems, crack down on interservice rivalry, or explain away the Administration's decision to rely on bomber power and accept a missile lag behind Soviet Russia which may not be closed before 1963-if then...
...largest democracies. Both threw off British rule. In Gandhi and in Lincoln, each has a national hero whose qualities of charity, compassion and gentleness both nations revere. U.S. aid to India, once grudgingly given and grudgingly received, has accelerated rapidly of late, is now past the $2 billion mark. As Indians get over their new-nation sensitivity about needing economic help, some even recognize the justice of the U.S. desire to see that the money is prudently spent...
...when Erlander's Finance Minister submitted his new budget, reiterating Erlander's promise not to raise taxes, he did not explain how the government could cover its expected $490 million budget deficit without an inflationary increase in Sweden's soaring national debt (up from $2.4 billion in 1951 to $3.8 billion in 1958). Committed to a $90 million increase in welfare benefits (to $876 million) and unwilling to cut the $540 million for defense, Erlander had to abandon his tax-free dream. To the Riksdag he proposed a most unsocialistic solution: a 4% turnover (sales...
...rather than taking imaginative initiative. One example of policy drift was Panama, where the U.S. was hastening to make concessions after a series of riots. Other examples: the no-medals-to-dictators policy, which came only after all but two of the dictators had fallen, and the $1 billion Inter-American Development Bank, which seemingly grew out of the stoning of Vice President Nixon...
BRANCH BANKING GROWTH in California has forced famed old Wells Fargo Bank (13 branches) to merge with the bigger American Trust Co. (102 branches). Wells Fargo-American Trust Co. will be eleventh biggest bank in U.S., with deposits of $2.3 billion...