Word: deficit
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Dates: during 1940-1949
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Below this level, the budget would show a deficit; above it, he hopes for a surplus to pay off the national debt. Taxes, once set, would be left alone. In addition he would reform the tax system along the lines of the now familiar Ruml-Sonne plan to abolish corporation taxes (TIME, Aug. 7), put the tax burden on income taxpayers. As a corollary, he would reform the policy on public works...
...team, headed by high scorers Francke and Flynn, turned in its second win of the year as against an equal number of defeats, in three overtimes. The Tufts outfit overcame a four point halftime deficit to tie things up 30 to 30 at the close of the third period...
...eastern slope had been abandoned after a month of struggle against rain and mud. It was because of this setback that the Japs had enjoyed temporary superiority over Allied land-based air forces, and the U.S. Third Fleet had to be held off the islands to make up the deficit...
...problem just as smoothly, now has some 600 Negroes in all types of jobs. Worker morale is so good that Grumman can always strain production in emergencies. When the Navy lost an unexpected number of planes on Guadalcanal, Swirbul rallied the workers on a weekend, to make up the deficit. Although production then was only three planes a day, they uncrated parts already packed for shipping and sweated out 23 planes in 24 hours...
...Navy's store of bombardment ammunition: 41,000 tons of shells have been fired at Jap and German shore defenses alone-230 times the total used to win the Spanish-American war. The need for rockets, for both ships and planes, is increasing. There is also a deficit in 40-mm. antiaircraft guns and in the ammunition they shoot...