Word: cutbacks
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...only $1.6 billion instead of the hoped-for $2.5 billion. Federal spending outside the war, Great Society programs, and interest on the national debt will be trimmed by $2.3 billion. One notable victim is the space program, which will receive $300 million less than last year, suffering its first cutback in the eight-year history of the National Aeronautics and Space Administration...
Costly Shows. Jan. 1, 1966 also brought some tax sweets along with the sour-at least in theory. In the second stage of a long-term Government rollback on excise taxes, cuts from .04% to 20% went into effect on items from stock transactions to club dues. The first cutback, effective last July 1, influenced such merchandise as furs, jewelry, leather goods and photographic equipment. According to government studies, manufacturers in their pricing passed 90% of the benefits of that $1.8 billion cut along to consumers. This year's cutbacks, which will cost the Government $1.6 billion more...
...Reserve Board's decision to boost its discount rate from 4% to 4½% , and a major reason why Lyndon Johnson reacted so mildly despite his disapproval. Last week the National Industrial Conference Board told the Congressional Joint Economic Committee that costlier money will bring only a tiny cutback in those plans. Among the 1,000 largest manufacturing companies, testified N.I.C.B. Senior Vice President Martin Gainsbrugh, none of the 644 replying to his survey after the discount rate hike expected to reduce plant expansion next year by as much as 5%; more than 92% predicted no change...
...slowing of business expansion in Europe and Japan, Britain's 10% sur charge on imports, and the worldwide plunge in commodities prices, which the underdeveloped nations depend on to earn foreign exchange. And, despite denials from U.S. officials, many businessmen suspect that the "voluntary" cutback of U.S. loans abroad has also hurt the nation's exports by drying up dollars in Europe...
...when the Erie Army Depot closes next year, such shifts can be ruinous. The committee therefore urged continued research and government help to soften the impact of changing military technology. This, rather than any likelihood of widespread unemployment as a result of disarmament, is the Administration's principal cutback worry...