Word: debt
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Dates: during 1950-1959
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...suppose as Estes campaigns through the Middle West he will attempt to woo the debt-ridden farmer with the call...
Another day older and deeper in debt...
...necessarily, per se, an indication of prosperity. Examine a year in the midst of the Eisenhower reign, 1954, a year for which there are statistics available and one which hindsight can interpret. In 1954, in the midst of Republican "prosperity," the country produced the all-time record national debt of 275 billion dollars, greater than any during the Second World War. Although the debt is necessary, an abnormally high debt behind great government spending is no base for the national economy. Frantic hacking at the Federal budget and expense juggling failed to reduce that colossal figure by any substantial amount...
...other side of the coin, private expenditure, came to an overwhelming $236 billion, which the GOP loudly hearalds as an indication that Rich America is growing richer and the standard of living is skyrocketing. The private debt for 1954, unfortunately, soared to its highest point in history. The non-farm debt reached an all-time peak, and the farm debt exceeded any since the bleak days of 1932. Naturally, the more you borrow the more you can spend. Under this truism, the Government and the public borrowed and spent more than they ever had before...
Give the canal to Egypt as a moral debt long overdue. Long live President Nasser...