Word: deficit
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Dates: during 1960-1969
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...only six days seems good news of a sort. In that not-as-bad-as-we-expected sense, President Kennedy had some good budget news to announce last week. Only "a few hours ago," he told reporters at his press conference, the Treasury sent him word that the budget deficit for fiscal 1963 (which ended June 30) was only $6.2 billion. That is another hefty deficit to run up in peacetime, but, as Kennedy pointed out with pride, it was $2.6 billion less than the $8.8 billion deficit the Administration predicted last January. He did not mention that back...
...shrinkage of the 1963 deficit from $8.8 billion to $6.2 billion, Kennedy said, resulted largely from "the recent improvement in business conditions," which brought additional tax revenues into the Treasury. The President nicely turned that fact into an argument for a tax cut: "This demonstrates again the point which I emphasized in my tax message to the Congress: rising tax receipts and eventual elimination of budget deficits depend on a healthy and rapidly growing economy. The most urgent economic business before the nation is a prompt and substantial reduction and revision of fed eral income taxes in order to speed...
...gone up from 250 to 750. Outstanding musical personalities have drawn remarkable crowds: Pinza (27,500), Belafonte (25,000), Joan Sutherland (over 20,000). No one expects Van Cliburn's 1963 opening-night figure of 14,000 to be topped this season. The concerts run an annual deficit of $80,000 to $100,000, but that is a minor problem as long as Lewisohn's spiritual and financial godmother, Minnie Guggenheimer, taps her who's-who list of rich, civic-minded New Yorkers...
...resurgent U.S. economy. But the economy did not show the strength expected, and the Government spent more than it collected. Thus, as fiscal 1963 last week came to an end and as Treasury accountants began totting up the figures, they found that instead of that original little surplus, a deficit of some $7.8 billion seems likely. But, all things being relative, it could be worse. Even the Administration, revising its own figures, last January officially predicted a deficit of $8.8 billion. Main reason for the improvement from that figure: the economy finally began to move...
...situation was somewhat different on the Continent: "overemployment" and inflationary wage jumps (as much as 10% in France this year) held back exports, gave the Common Market a first-quarter trade deficit of $750 million, and brought about a much more competitive export situation between the Common Market, Britain and the U.S. Rising wages stimulated a consumer-goods boom that has kept the market growing despite a general slackening in capital goods investment. Common Market steel production, at 39 million tons in the first half, was the same as last year's first-half rate, but chemical production...