Word: debt
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Dates: during 1950-1959
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...McCarthy for a plunge into letters-a 10,000-word article on housing legislation written during Republican McCarthy's term as vice chairman of the 80th Congress' joint Housing Committee. It was paid out at a time when Lustron, now bankrupt and $37.5 million in debt to RFC (see BUSINESS), was just beginning its long and rich ride on the U.S. taxpayers' back...
...Debt. Good-natured Little Apostle Don Zeno likes to amble through his Village of Brotherhood in turtleneck sweater and beret, pepping things up with a tune on his accordion. This week his bushy eyebrows were knitted with concern over plans for expansion. More foster mothers have been signing up each year (current total: 100), but Nomadelphia still has a waiting list of 7,000 abandoned children. To take care of the overflow, Don Zeno has bought 3,000 acres for a new "village" on the Tyrrhenian coast...
Raising donations for the land, clearing it and putting up buildings will take adroit managing, but Don Zeno is more worried about safeguarding the ideas on which he has built his Christian experiment. "Here in Nomadelphia," he says, "we are living the true Gospel. We have no debts. It is society that has the debt to care for children who have no homes...
...figure of fun. As people began to snicker, other disasters struck him too. He lost his savings in speculations. His publishers went bankrupt and failed to pay him. His wife became an alcoholic and was out of her head for a time. His eldest son ran hugely into debt, was kicked out of the army, and almost broke Tupper's heart when he was found suffering from delirium tremens in a prostitute's lodgings. Another son was killed in an accident. Tupper himself, who died in 1889, at 79, lived out his last years on public doles...
Nobody, apparently, was more surprised by such talk than Treasury Secretary John W. Snyder, who has the worrisome job of managing the $257 billion national debt. After thinking about it for a day, he flatly contradicted Keyserling. Said Snyder: "The deficit financing part of the [Administration's] program is due to inadvertent circumstances [i.e., national defense, foreign aid, a 1948 tax reduction], and not to any planning...