Word: deficit
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Dates: during 1940-1949
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...watch on merchants' prices, had set rents at a modest $44 a month for a five-room house (including heat), had fended off crime, slums and commercialized sin. And Richlanders didn't even have any local taxes to pay: the Government made up the annual million-dollar deficit...
...Belgium's Parliament was Finance Minister Liebaert's cut in direct taxes (on property, shares), which would save Bel prosperous, free-enterprising tax $5,000,000 this year. Further reductions, hoped Liebaert, would save $30 million in 1950 and $40 million in 1951. Though Belgium has a deficit of $90 million this year, Liebaert, no advocate of the welfare state, thought he could still balance the budget, as well as drop taxes, by trimming social-security benefits, coal and railway subsidies...
Until now, the HAA has been budgeted on a self-sufficient basis. In the past three years, this has resulted in a $326,000 deficit. Now, according to the AP story, the University's "athletics are going to be put on a footing similar to its educational activities. That, Bingham hopes, will in time ease up the overpowering pressure for big games, big victories, and big gate receipts...
...This policy, if put into effect, would mean that the Faculty of Arts and Sciences, which now pays the HAA deficits, would be relieved of that burden; the University, either through this Faculty or some other agency, would provide at least part of the funds now raised through gate receipts, on a regular, instead of a deficit spending, basis...
...violate the rules for a time "and get away with it," warned W. Randolph Burgess, executive committee chairman of Manhattan's National City Bank. "But economic laws have a way of working out, and eventually we will have to pay the penalty." For the Government's deficit spending, U.S. citizens may have to start paying the penalty in higher prices in short order. Warned he: the U.S. may be in for another round of inflation...