Word: deficit
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Dates: during 1960-1969
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...economies, brought the U.S. worldwide economic power and prestige, and earned considerable profit for American industry. In one sense, clearly, the free outflow of capital is a distinct asset. In another, it is an increasingly serious problem, since it is a major source of the U.S.'s payments deficit and the cause of its stepped-up loss of gold...
...expected. Another example of Johnson compromise, it combined some moderate restraints on the flow of dollars abroad with an appeal to the patriotism of U.S. industry. "The contribution of American capital to the world's growth and prosperity has been immense," said Johnson. "But our balance-of-payments deficit leaves me no choice." Since the U.S. feels that it cannot make major cuts in foreign aid or military spending abroad without endangering its security, the President concentrated on three main areas...
...lead to win the championship. The Eagles gained a 3-3 tie by the end of two periods, went ahead 5-3 midway through the third, and just hung on to win as the Terriers pulled their goalie in the last minute after drawing up to a 5-4 deficit...
Strong support for this optimistic view came last week from Pierre-Paul Schweitzer, the managing director of the International Monetary Fund and the world's top currency controller. "A more realistic assessment would some what lower the figures for the overall deficit," he said. "The structure of the U.S. balance of payments is one of underlying strength...
Lockheed; instead of British P-l 154 supersonic fighters, it will order about 150 F-4 Phantoms from McDonnell Aircraft. While the decision will add to Britain's worrisome balance of payments deficit, Prime Minister Harold Wilson estimated that it will save $840 million over the next ten years. Wilson postponed an even bigger decision: whether to scrap development of the British TSR-2 strike bomber in favor of General Dynamics' F-111 (originally TFX) fighter. But he grumbled loudly at the "prodigious" cost of the British plane -as much as a prewar battleship...