Word: boom
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Dates: during 1960-1969
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...Federal Reserve Board's decision in December to raise the discount rate from 4 to 4 1/2 per cent, causing the cost of credit to rise moderately, Heller explained, as well as Congressional enactment of excise tax increases, have moderated the boom in the American economy to a certain extent...
Indeed, the city's police were not overly concerned when Mrs. Norma Rowe told them that Alleen had disappeared in May 1964, or even when Dr. James Fritz, a prominent heart surgeon, came in to report his two daughters missing in August 1965. In Tucson, a boom town with an unusually high proportion of transient residents, more than 50 runaway minors are reported each month. Propelled by the same aimless itch, unrestrained by permissive parents, hundreds of teenagers haunt the Speedway. They were easy bait for Smitty, who was older, more sophisticated and, as they said admiringly, "different...
Suburban growth has also been powerfully stimulated by the Federal Government-the FHA mortgage insurance program, which Weaver has directed for the past five years. Created in 1934, it fueled a feverish building boom that ultimately changed the U.S. from a nation of 52% renters to 62% homeown ers. Unfortunately, the housing bureaucracy has often been appallingly lacking in esthetic and environmental vision...
...between the sexes. "Funny men don't seem to write books these days," laments Russell Baker. Nightclub humor-what there is of it-is also in bad shape. San Francisco's hungry i, where many comedians got their start, has been hurt by the bare-bosom boom; Manhattan's Blue Angel is defunct; and the Bon Soir, where cerebral comedians once gamboled, now has a noncomic policy. The comic strips, too, are in a generally deplorable state, two notable exceptions being Schulz's Peanuts and Al Capp's Li'l Abner...
...monetary policy alone does not do the anti-inflationary job, the Government will move on the tax front. Economist Heller proposes a temporary suspension of the 7% tax credit for new investment; that apparently would be a quick way of relieving the capital-spending boom without offending too many people. Treasury Secretary Fowler, however, would prefer a general increase in corporate and personal taxes if necessary. Said Senate Minority Leader Everett Dirksen last week: "The Ad ministration is talking in terms of another 5% income tax increase and an added 2% corporate tax later this year...