Word: congresses
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Dates: during 1950-1959
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...think the very flat refusal to take care of the matter of our long-range financing is one of the most serious things that has happened to the United States in my time." Thus President Eisenhower last week criticized Congress for its failure to raise the 4¼% ceiling on long-term Government bond rates (TIME, Sept. 21). Raising the interest the Government pays on such bonds, argued Congressmen, would only be an open invitation to all other money rates to go up, would cost the Government more to finance its debt. Last week interest rates were going up anyway...
...Congress' refusal to raise the ceiling on the long-term end of the Government bond market has forced the Treasury to do all its financing in the inflationary short end. Between now and Jan. 1, the Treasury has to refinance almost $12 billion in old debt and borrow $7 billion in new cash. So much money borrowed in the short end has created a strong pressure to shove all interest rates higher. The process is already operating. Last week, as the 91-day bill rate went up to nearly 4.2% from 3.979% on the sale a week before...
...President's hope is that the public will soon see that Congress did it no favor in trying to keep interest rates under the 4¼% ceiling, which now has turned out to be no ceiling at all but rather a prime cause of higher interest rates. Once the public is educated to that fact, said Ike. "Congress will feel the heat of truth about this matter and do something." At week's end the public was about to be educated. In Washington, the Federal Housing Administration prepared to raise the home mortgage rate from...
...steel companies that they were being very "shortsighted" in not finding a means to end the strike. If the Taft-Hartley Act was invoked, and there was no settlement during the 80-day period, Mitchell said that legislation "inimical" to the steel companies might well be passed by Congress...
...year will pay $440 million to bowl. The entire bowling business, i.e., investments in alleys, bowling equipment and fees, will gross more than a billion dollars in 1959 for the first time. New bowlers are increasing at the rate of 12%-14% a year. The rules-making American Bowling Congress' paid membership has jumped to 3,250,000 this year from 1,500,000 five years ago, and the number of A.B.C. certified lanes in the U.S. has increased to 87,475 from...