Word: debt
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Dates: during 1950-1959
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...Marked off a new line of fiscal frugality for his Administration. A balanced budget was something he was earnestly striving for, said Ike, but he pointedly omitted previous hints that this might mean a tax cut. Said he: "We should be starting to pay off our [$284 billion] debt . . . Congress itself expects us to get in the business of paying off some of these great obligations, and I think we should." ¶ Pinned an oakleaf cluster, in lieu of a third Distinguished Service Medal, on the chest of retiring General Maxwell D. Taylor. Cracked Ike, as he searched...
...House voted to raise the temporary limit on the national debt to $295 billion-precisely what Ike had requested...
...York, but in London, on one of the trips he made to raise money, he was jailed for 22 months. His most ambitious moneymaking venture, which gave Novelist Kenneth Roberts the title for his book about Rogers, was to find a northwest passage to the Pacific. But debt, circumstance and such enemies as Gage kept him from searching for the ' overland route that the Lewis & Clark expedition found in 1805. During the American Revolution, he offered his services to General Washington, fought briefly for the British after he was turned down. After the war, in one of U.S. history...
...stark warning by Commerce Minister Alberto Ullastres that something drastic must be done to save the Spanish economy (TIME, June 15), 50 small and medium-sized factories in hard-hit Barcelona announced a "suspension of payments," a legal state just this side of actual bankruptcy that defers debt payments and allows a company to lay off help (otherwise forbidden by law). In a land where newspapers print no unpleasant news, word spread that the big (3,000 employees) Euskalduna shipyard and the Basconia steel mill in Bilbao were also about to lay off their work forces, and so was Madrid...
...Asked congressional leaders of both parties to the White House to discuss refinancing the national debt, afterwards prepared recommendations for new legislation to 1) increase the regular debt limit from $283 billion to $288 billion, and the temporary limit from $288 billion to $295 billion; 2) raise interest rates on savings bonds and long-term Treasury obligations to make them more attractive in the bond market (see BUSINESS...