Word: debt
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Dates: during 1950-1959
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...Furniture Manufacturer Thomas B. Stanley, backed by every unit of Harry Byrd's Democratic machine, was elected by a margin of more than 44,000 votes. In their own Virginia way, the Byrdmen pitched their campaign against Dalton on the argument that he was a big-spending, high-debt, New Deal type...
...Walter Reed Hospital for rest and treatment. From Oslo also came the announcement that Dr. Albert Schweitzer, 78, had won the held-over 1952 Peace Prize ($33.149) for forsaking fame as a philosopher, theologian and musicologist to spend the past 40 years of his life discharging "the greatest unpaid debt of Western civilization" —as a medical missionary in French Equatorial Africa...
Early next year, said Budget Director Joseph Dodge, Congress will have to raise the debt limit. In the meantime, said he, the Government could probably borrow beyond the limit because Congress has passed appropriations for the next few years which could easily compel government spending beyond the present debt limit. But, he added, nobody in the Administration wants to do that because "people might not like the bonds...
Treasury Secretary George Humphrey took advantage of easier credit conditions last week to borrow some money cheaply and move a step forward in his program of "stretching out" the national debt. He also put the debt within $400 million of the $275 billion ceiling...
Treasury officials still think that they can stay under the debt ceiling until the first of the year. To keep from breaking through the ceiling, the Treasury has already suspended the sale of its savings notes, two year securities bought principally by corporations and other big taxpayers as tax reserves. In a pinch, they can cut the number of short-term Treasury bills sold each week (normally $1.5 billion), meet day-to-day expenses by dipping into the Treasury's $5 billion in cash balance and its $1 billion reserve of gold bullion. But both are only stopgap maneuvers...