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...tenets. Now even businessmen, traditionally hostile to Government's role in the economy, have been won over?not only because Keynesianism works but because Lyndon Johnson knows how to make it palatable. They have begun to take for granted that the Government will intervene to head off recession or choke off inflation, no longer think that deficit spending is immoral. Nor, in perhaps the greatest change of all, do they believe that Government will ever fully pay off its debt, any more than General Motors or IBM find it advisable to pay off their long-term obligations; instead of demanding...

Author: /time Magazine | Title: The Economy: We Are All Keynesians Now | 12/31/1965 | See Source »

...brakes, the Administration feels, will slow the nation's dollar outflow by $1 billion in 1966, thus bringing it into equilibrium-a balance of payments deficit or surplus of no more than $250 million. Whether they will also tend to choke off investments that produce a golden stream of returning profits is another question. Voicing that fear last week, General Electric President Fred J. Borch expressed alarm at the global trend toward "resurgent nationalism" in economic affairs. "Businessmen all over the world cannot fail to be greatly concerned," he said, "about today's mushrooming restrictions on international trade...

Author: /time Magazine | Title: U.S. Business: New Dam for the Dollar Drain | 12/10/1965 | See Source »

...danger of the Higher Education Act as Monro and Galbraith are it, is "the great problem of digestion": the possibility that so much uncoordinated legislation will "choke up" the administration of the programs. "The Act throws a lot of responsibility on the colleges right away," says Monro, but Monro, like most college administrators, isn't complaining. "This act is the greatest breakthrough in our history," he says, and its importance is in a large part that it doesn't apply only to Harvard, but to all of American higher education

Author: By John D. Gerhart and Mary L. Wissler, S | Title: The Higher Education Act: New Step in Federal Aid | 11/2/1965 | See Source »

...Gasping and roaring like a wounded animal," Rasputin still had enough energy to try to choke the prince. Like an actor in the TV play he disapproved of, the old man dramatically clutched his own throat in demonstration. After that, the dying monk staggered into the courtyard, where he showed remarkable stamina by surviving four more bullets before the prince beat him to death with a club and the plotters tossed the corpse into the ice-filled Neva River...

Author: /time Magazine | Title: Privacy: The Prince & the Monk | 10/29/1965 | See Source »

...amendments to the bill. For example, Kansas' Bob Dole introduced an amendment to give the First Lady rather than the Secretary of Commerce the power to enforce the beautification bill. It got nowhere. Nor did a raft of other G.O.P. amendments. The more the Democrats tried to choke off the beautification debate, the angrier the opposition became...

Author: /time Magazine | Title: Nation: Some Enchanted Evening! | 10/15/1965 | See Source »

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