Word: cutbacks
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...Cutback. What Thompson's move 'did mean was that he had finally been able to win what Texas independents want-promise of a cut in crude imports (now some 820,000 bbl. daily), giving Texas a bigger share of the domestic market. That ambition had been implicit in Thompson's Washington testimony. The way to supply Europe was not to increase production, he said, but to make major refiners cut back imports of Venezuelan crude, ship it direct to Europe...
NATO's Norstad was not surprised by the long-expected British cutback, but he was nonetheless pained. In secret talks that preceded last week's announcement, Airman Norstad was concerned by the widespread tendency to say that ground troops no longer matter, since they can be compensated for by more technological weapons. If the British reason for reduction in force is economic, he pleaded, they owe it to their partners to say so. This the British did. This explanation, Norstad hoped, would not give other NATO nations an excuse to follow suit, since all of them except...
...cutback will be in "Century Series" supersonic fighters, which currently comprise a big chunk of aircraft production. In the reduction, McDonnell Aircraft will probably make fewer F101 Voodoo fighters than it had hoped, is busy working on a family of supersecret missiles to take up the slack. Lockheed, too, may see some slowdown in orders for its sizzling (upwards of 1,300 m.p.h.) F-104 Starfighter. The Pentagon plans to close out several wings in the Air Defense Command and Tactical Air Command, some of which were to be equipped with F-104s. Yet Lockheed denies any cuts in planned...
MOSCOW, Feb. 5--Soviet government officials laid down the line today for a cutback in the rate of Russia's industrial growth and a slight reduction in direct defense expenditures...
...gimcrack, now embraces it as a painless way to cut surpluses. And in the 1958 budget he asked for an unprecedented $4.9 billion for agriculture, the largest farm outlay in U.S. history. Benson's vigorous program to sell off surpluses at home and abroad has worked; the surplus cutback augurs well for future farm stability; farm prices are on the upswing...