Word: deficit
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Dates: during 1960-1969
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...political favors and was able to frame both definitions and solutions of the city's problems. He began by slapping an income tax on everyone who lived or worked in the city, and in four years the city has been able to turn a large deficit into a surplus, to increase municipal services, raise salaries (police salaries went up 25 per cent), and lower the property tax, Cavanagh's police commissioners reformed the Police Department, and his bright young department heads have consistently been first in line for antipoverty funds and other types of federal...
...loans under the new credit program may be arranged directly with individual countries since they will be used to pay for the purchase of Spanish trucks, industrial machinery and other manufactures. Owing to a swelling demand for imports, Spain is heading for a $200 million balance-of-payments deficit in 1965 and must find export markets for her growing factory output. Explains Láureano López Rodó, 44, Franco's top economic planner: "Credits are a means of selling, and since our fundamental problem now is our export problem, I believe we should...
There is certainly some reason for concern about inflation. The economy is humming along at only 2% (or $15 billion) away from what the President's Council of Economic Advisers considers its full potential. It faces a doubled federal budget deficit of $7 billion or $8 billion this fiscal year as a result of stepped-up spending for the Viet Nam fighting. The Bureau of Labor Statistics reported last week that consumer prices edged up again in October to a record 110.4% of their 1957-59 level, bringing the gain in the past year to 1.8%. Unemployment fell...
...brakes, the Administration feels, will slow the nation's dollar outflow by $1 billion in 1966, thus bringing it into equilibrium-a balance of payments deficit or surplus of no more than $250 million. Whether they will also tend to choke off investments that produce a golden stream of returning profits is another question. Voicing that fear last week, General Electric President Fred J. Borch expressed alarm at the global trend toward "resurgent nationalism" in economic affairs. "Businessmen all over the world cannot fail to be greatly concerned," he said, "about today's mushrooming restrictions on international trade...
...Diatome, won last month's Washington, D.C. International, Treasury's Fowler was right there to present the $90,000 prize money. Fowler lost no time in expressing his hope that the baron would leave his winnings in the U.S., where they would not contribute to the payments deficit. Rothschild agreed to do just that...