Word: deficit
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Dates: during 1960-1969
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...corporations. In Washington last week, Japanese Finance Minister Takeo Fukuda let it be known that his country has decided on a strong dose of U.S.-type medicine. Japan will step up government spending and institute substantial tax cuts, which means that next year it will show its first planned deficit since...
...tackling Detroit's other problems, which were legion. To pump revenues into the nearly bankrupt city treasury, he introduced a 1% income tax that adds $42 million annually to city revenues. With added funds generated by the current auto boom, Cavanagh has wiped out the $34.5 million deficit he inherited, put the city budget in the black, cut property taxes, and halved a tax on industrial machinery...
Britain had little to cheer about, either, in the battle to overcome its unfavorable trade balance, the source of the pressure on the pound. Figures announced last week showed that the deficit climbed from $140 million in July to $263 million in August. Whatever their other disagreements, both the framers of the new economic plan and its critics seemed to agree about one thing: increasing austerity remains in order for Britain...
Under President Guillermo Leon Valencia's do-nothing, three-year-old government, the cost of living has risen 60%, Colombia's chronic trade deficit has doubled, business confidence has evaporated and unemployment is soaring. Politically, the ruling Liberal-Conservative National Front is splintering, and Congress is all but immobilized. Last week, with new elections only nine months away, Valencia finally decided that something ought to be done. Invoking emergency powers, he named a new Cabinet and decreed a series of reforms to pull the economy back from the brink...
...international banking and finance circles and has Valencia's support "to do whatever is needed to save the nation." From his emergency reforms, Vallejo hopes to bring in an additional $40 million in revenues this year to help pay off the government's projected $87 million deficit. To make up the rest, Vallejo plans to meet with the International Monetary Fund and the World Bank in Washington later this month, and seek additional...