Word: debt
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Dates: during 1950-1959
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...along with this rise in living standards came a rise in debt and taxes, due partly to New Deal spending, but mostly to the $351 billion cost of World...
...Allan Nunn May had proved an exemplary prisoner, becoming a trusty and working as a librarian, and earning all the remission allowed by British law for good behavior. This week, after serving two-thirds of his time (six years eight months), Atomic Physicist Allan Nunn May was released, his debt to society marked officially paid. He was a free...
Since 1932, the Government's annual budget has jumped from $3.9 billion to 1952's stratospheric $78 billion. The federal debt has shot up from $19 billion to $259 billion. Personal income taxes have jumped from $300 million in 1932 to $30 billion in 1952. Corporation taxes have climbed from less than half a billion to $23.5 billion, or 5,775%, and inflation has shrunk the 1935-39 dollar to 53?. Taxes of all kinds now gobble up 30% of every body's income...
...roll up a surplus, then taxes will be cut to the extent of the surplus. He thinks it more important to keep up the buying power of the nation by tax reductions than to build up a surplus which could be used to reduce the national debt...
...DEBT. The fast-growing U.S. economy makes the national debt less frightening than it once seemed. In 1932 the debt of $19 billion was about 30% of the gross national product of $58.3 billion. In 1945 the debt was 20% bigger than the gross national product. But in 1952 the debt was only about 75% of the gross national product. The great trouble was that the debt was so liquid, i.e., too much of it was in short-term notes that must be "rolled over" (refinanced) every 90 days or so. To put the financing of the debt...