Word: budgeting
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Dates: during 1960-1969
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...return for the handover of Okinawa, Sato made important concessions. He pledged to pick up a larger share of the Asian defense burden. To keep this pledge, he will double the country's military budget after 1972. He also agreed to increase Japan's economic aid to other Asian nations. On the trade front, he committed Japan to use multilateral Geneva talks to solve the problems created by Japan's rapidly expanding textile industry, which has been flooding the U.S. with its inexpensively produced synthetic fibers...
None of these conditions are likely to be very popular in Japan. Accustomed to reliance on the U.S. for protection, Japan now spends less than 1% of its gross national product on defense. Japanese are understandably reluctant to increase their country's military budget or to assume a larger and more expensive role in an Asian defense system. The country's industrialists naturally are not eager to cut back on their highly profitable textile exports...
Designed by a team of young New Yorkers who won the commission over much better known contestants, the present pavilion is a comedown of sorts from the spectacular cluster of airborne spheres originally proposed but ruled out by a congressional budget slash. But the design is still a spectacular achievement. From the air it may look like a king-size mattress pad, but from ground level the thing it most resembles is a moon crater roofed over with a shallow, translucent dome. The pavilion covers an oval area approximately the size of two football fields. Its solid, earth-filled walls...
...Call for Controls. The meeting took place amid increasing signs that businessmen are growing pessimistic about the chances that the Administration's strategies of tight money and budget surplus will actually stop inflation. The latest economic statistics indicate that the policies are indeed slowing the economy. Corporate profits dropped sharply in the third quarter, and industrial production fell in October for the third straight month (see chart). Housing starts fell 12% last month to the lowest level in two years, and new orders for durable goods, which had risen sharply in September, settled back again. The price picture...
...much smaller defense funded portion of the budget which pro-yoked the most discussion among the some 75 people present at the meeting. Several urged that the department move towards reducing the defense contracts...