Word: deficit
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Dates: during 1960-1969
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...batch of disastrous financial figures. The value of the peso has crash dived from 90 to 50 in 20 months. The cost of living went up 45% last year, has climbed 30% more this year. The government's proposed $258 million budget for 1965 includes a planned deficit of $29 million; others say it will be more like $83 million. The gross national product over the last six measured years (1955-61) expanded only a paltry $8 million, though projected figures at the start of the period assumed a $70 million gain...
Still Compassionate. With the opening steel skirmish won, Wilson turned coolly to the next item on his agenda, an emergency "autumn budget" designed to ease Britain's painful $2 billion balance-of-payments deficit until the regular budget is drawn up in April. At the same time, Wilson saw a chance to nail down votes for a probable spring election by passing some promised social-welfare measures...
...capable of renouncing "our monarchic and nationalist regime to adopt the Communist regime." Next thing, Snookie warned Russia and Red China that unless his economic problems are solved, Cambodia might abandon these nations and "align itself with the very rich United States so that they can meet the annual deficit of our national budget"-a suggestion that might no longer be very welcome in Washington...
Some Fresh Worries. Behind the rash of personnel announcements, though, many problems remained. The Saturday Evening Post, with 6,500,000 circulation, is not only Curtis' biggest magazine, but its only serious money loser with an estimated $10 million deficit this year. The board decided to make the Post a biweekly, effective with the first week in January, hoping thereby to cut losses drastically. The decision will also cause the layoff of 250 employees at Curtis' Lock Haven, Pa., papermaking plant. Perhaps as a further economy, the board chose not to replace the two rebel leaders, Editor...
...York's prestigious Economic Club, which has heard such speakers as John Kennedy and Nikita Khrushchev, Davenport threw down the gauntlet in a speech that, together with his book, is a testimony to what he calls the value of "traditional wisdom." He not only deplores the easy credit, deficit spending and incipient inflation that he sees around him but criticizes many measures that have been welcomed into the mainstream of economic thinking. He opposes the closed shop, considers minimum-wage laws "illadvised" and partly responsible for unemployment, argues that the 15% tax on foreign securities bought by Americans...