Word: cuttings
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Dates: during 1960-1969
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...victory on its major section spelled trouble for the balance of the bill. Last week, before the Senate's adjournment until after Labor Day, other sections of the bill were debated and trimmed. Stennis, an able and astute politician, had anticipated the Senate's antimilitary mood and cut $2 billion from the bill in his committee. Yet he was shocked to find that, once it had reached the floor, his fellow Senators demanded still further cuts. "Take out the tanks, take out the carriers, take out this, take out that," Stennis complained. "I just do not believe that...
...million cut in the Pentagon's "emergency fund," an amendment that was opposed by California Conservative George Murphy, who called it "comfortable money" for the military. Answered Maryland Democrat Joseph Tydings: "I would call it luxury money...
...merchant marine after World War II, sold them 100 Liberty ships on easy credit terms. Many of the ships were delivered just before the Korean War sent freight rates soaring. Later, in the wake of the 1956 Suez crisis, the Greeks were among the first to order supertankers, which cut costs on the long trip around the Cape. The investment has paid handsomely, and the shipowners have also benefited from the general expansion in world trade...
...shipowners. His net worth: about $750 million. At the end of World War II, he owned a shipping line, but no ships at all. The war had destroyed 70% of the Greek merchant fleet, including the three Lemos vessels. To replace them, Lemos bought three U.S. Liberty ships at cut-rate prices. Like many other Greeks, he has devised quite a few new methods and designs, including a combination liquid-dry cargo ship that can haul a load of oil on an outbound voyage and return with a cargo of coal. Partly because of his inventiveness, he has accumulated...
...Budget Cut. At the center of the controversy is the embattled Small Business Administration, which was supposed to have been the primary financier, cheerleader and quarterback of black capitalism. The Government's general budget hold-down has forced the SBA to cut its loans. Funds for the SBA's four main loan programs were reduced from $554 million last year to $253 million in the current fiscal year...