Word: debt
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Dates: during 1950-1959
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Back in the small print sat the penalty for deficit financing: interest on the federal debt, $6.2 billion-six times fatter than...
...cost of running and protecting the U.S. will come to $85.4 billion for the twelve months beginning next July 1, he estimated. Under present tax laws, federal revenues will be about $71 billion. The probable deficit for the period will be about $14.4 billion, to bring the total public debt to some $275 billion. Truman mildly asked Congress to vote him the $5 billion which Congress chopped off his tax request in the last session (and got a bipartisan, election-year roar of rejection from Capitol Hill). Then, as if he did not really expect new taxes, he took comfort...
...captain on his staff, later married her. After two years of occupation duty, Draper was called home to become Under Secretary of the Army. Then, before he could get deeply back in investment banking, New York's Governor Dewey asked him late in 1950 to take over the debt-ridden, wreck-ridden Long Island Rail Road. When he accepted, The New Yorker quipped: "He has a good head for aches...
...democratic national educational institution open to talent wherever found." Conant, quoting from a statement by Dean Bender, who next term will be Dean of Admissions and Financial Aid, said "loans and student employment will be still further expanded, but there are limits to the amount of employment and debt which an undergraduate can assume...
Norris' tactics paid off. In his regime, the Southern's freight volume doubled, its net jumped to $22 million. Norris also managed to cut the Southern's debt by $120 million, including $32 million owed to the RFC which he had vowed he would pay off "dollar by dollar," if necessary. Last week, after half a century of railroading, 69-year-old Ernest Norris stepped up to the post of chairman...