Word: debt
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Dates: during 1950-1959
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...became the party's rush nominee when Attorney-General Fingold suffered a fatal heart attack ten days before the primary. Gibbons, backed by thousands of dollars from the Associated Industries of Massachusetts, is harping on the heavy state expenses in the last two years, and on the excessive state debt. The Republicans, however, are neglecting one point: most of the debt was incurred in the last two GOP administrations...
...majority leader under former Governor Herter, Gibbons supported the expansion of the state debt by over $600 million--70 per cent of the current total--so that the blame cannot rest entirely on Furcolo's shoulders. Furthermore, Gibbons has shown reactionary tendencies in his voting record in the state General Court. He opposed the establishment of a state Fair Employment Practices Commission and voted against raising the minimum wage on four separate occasions...
...Governor, Furcolo has spent more than any other executive in state history. Inflation is one cause of this record and debt retirement has proved very expensive. Massachusetts has the largest per capita state debt in the nation, despite the existence of a high state income tax, extra excise taxes and local property levies that pass $90 per $1,000 valuation in Boston. (However, it should be pointed out that part of Furcolo's expenditure has gone to provide additional housing for the elderly, to establish nine state junior colleges, and to reconstruct the inadequate state road system...
...that installment buying would plummet and, with a wave of repossessions by finance companies, pull the economy down farther. Nothing like that occurred. Total U.S. consumer credit (including installment buying, charge accounts and personal loans) inched down to $43 billion in July, only 4% below its December high; installment debt, the biggest hunk of the total, dropped only 2.7%. Thus, credit continued to be a big support under the economy...
...influence however is undeniable. The ideas found first in the Harvard plays and letters of the period, occur again and again in the great autobiographical novels. Though the eventual failure of Welcome to Our City produced a temporary disenchantment with the University and Professor Baker, Wolfe later acknowledged his debt to both. In the first draft of Of Time and the River he wrote: "Harvard--the one place he had found where utter freedom had been given him to read think and say what he liked.... Few places have meant more...