Word: billioned
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Dates: during 1950-1959
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Star witness before Democrat Johnson's committee was Defense Secretary Neil McElroy, who brought along a signed statement from the Joint Chiefs of Staff to prove that they "consider" the Defense Department's $40.9 billion 1960 budget "adequate to provide for the essential programs," although they have doubts whether the budget provides enough money for all the programs included in it. One by one, the service chiefs-Air Force's General Thomas White. Navy's Admiral Arleigh Burke. Army's General Maxwell Taylor and Marine Corps' General Randolph Pate-backed up the statement...
...need no help. "It does little to help the farmers in greatest difficulty." ¶ It breeds ever bigger surpluses, because high support prices attract capital to supported crops, and soaring farm technology keeps defeating crop-control measures. ¶ It is "excessively expensive." Farm-stabilization costs are running to $5.4 billion this year, and surpluses have piled up so high that the cost of storing the stuff will soon run to $1 billion a year...
While the U.S. taxpayer goes through the $77 billion tax bite necessary to feed the new federal budget, he stands to be nibbled by piranha attacks of increased state taxes. Combined budgets of U.S. Governors as 46 legislatures convene this year*to consider fiscal matters: more than $17 billion, an increase over current expenditures of about $1 billion...
...says in the kind of phrase that sounds snappy around a boardroom table -give smokers "less of the things they have been smoking filters to get less of." Result, in the statistics that look wonderful on a boardroom chart: Kent's domestic sales zipped from 3.4 billion to 36 billion a year; Lorillard's stock went from 15⅛ to 89; Lorillard sales jumped from $203 million to close to $480 million in 1958; net income rose from $4,519,758 to an estimated $28.5 million; and Lorillard moved from a lagging sixth among companies to nudge Liggett...
...EXPORTS will rise from last year's estimated $16.2 billion to more than $17 billion, while imports will go from $12.9 billion to $13.8 billion in 1959, predicts National Foreign Trade Council. One big reason for export gain: convertibility of Europe's currencies...