Word: deficit
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Dates: during 1960-1969
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...past half-dozen years, a remarkable number of economic decisions have been affected by one persistent problem: the U.S. balance of payments deficit. To fight it, the Federal Reserve Board raised interest rates, the Administration pleaded for stable wages, Congress toughened the tax treatment of businessmen's foreign earnings and obliged tourists to cut back on their overseas souvenir buying. Last week the first estimates for 1964 heightened Washington's confidence that the U.S. at long last may be closing its bothersome and embarrassing deficit. Preliminary figures show that the deficit, which was $527 million...
...partly because the U.S. sold wheat to Russia and partly because some payments that Washington had hoped to collect last year did not come in until this year. But there was much more to it than that. The proposed U.S. tax on purchases of foreign stocks-among many other deficit-fighting measures put forth under President Kennedy-has already reduced capital outflow. The threat of this tax, which is likely to become law this summer, has already been effective because the tax will be retroactive to last July...
...tough right-wing dictator from 1953 until he was overthrown in 1957, is barred by law from politics, lives in semi-exile in his backlands home. Under no such restraint, his resurgent party lambasted President Guillermo León Valencia's bipartisan government for higher income taxes, deficit spending and spiraling living costs. Rojas-backed candidates piled up 21% of the vote, to win 27 seats v. six in the last Congress. Though the ruling Liberal-Conservative front was still well in control, Rojas' rise could pose a serious threat to Colombia's six-year-old ruling...
...than the rough 3.2% guideline that the Administration suggested in January as reasonable and noninflationary. One of the Administration's greatest concerns now is that other labor chiefs will demand at least as much as Reuther. That-combined with a big increase in purchasing power, a big federal deficit and a continuing policy of easy money-could bring on inflation and end the U.S.'s six-year period of relative price stability. With such a prospect in mind, President Johnson in his speech this week to the Auto Workers, and Heller in a talk to the Economic Club...
Among the first to go may be the chief of the State Budget Department, who was asked to submit a draft of the fiscal-year budget. The official replied, "What kind of budget do you want, sir? A balanced budget, a budget with a deficit, or a budget with a surplus?" Snapped Mansur: "We are going to stop fooling the public and fooling ourselves...