Word: debt
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Dates: during 1950-1959
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Even with skimping, and shoving big purchases off into the post-strike future, many strikers are running into debt. Steelworker John Novasich had some savings piled up when the strike started, but now he is a month behind on his mortgage payments, has yet to pay the doctor bill for the operation his wife underwent last June, and is wondering how he can scratch the $160 he still owes on his son's tuition at Youngstown University...
INCREASED U.S.-U.S.S.R. TRADE: The Administration and Congress may relax some restrictions against U.S. trade with Russia, said Under Secretary of State C. Douglas Dillon, if Khrushchev follows through on his promise to reopen negotiations on the unpaid lend-lease debt, shows good faith by some reasonable payment on an obligation that the U.S. has already written down from $2.6 billion to $800 million. Moscow also published a fact that U.S. sources politely kept off the record for a week: Khrushchev asked industriailsts and financiers at a Washington dinner for loans to finance Soviet purchases...
...when there was so much money to be made on the outside. He served a three-year apprenticeship in the oil business as salesman, scout and leaseman, left the oilfields to return to his first love, cattle raising. His herd died of tick fever, putting him $6,000 in debt to the Athens bank. After another hitch in the oilfields, Richardson returned to Athens a year later in a brand new Cadillac, "swung around the square so's all the bench warmers would see me good," and then went to the bank and paid back the cash. Then...
...billion to the Administration's income estimate for fiscal 1960 (ending next June). But over the same span, the outgo estimate has also crept upward by $1.9 billion, reaching $78.9 billion. Biggest reason for the outgo increase: rising interest rates, upping the cost of carrying the national debt for the fiscal year from $8 billion to $9 billion. Net result of the higher income and outgo estimates: the budget still shows the skimpy surplus, about $100 million, that the President predicted back in January...
...Personal debt, in the largest jump in four years, rose by an estimated $5.9 billion in the second quarter, to a total of $157.9 billion...