Word: deficit
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Dates: during 1960-1969
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...Boston last week. Scranton was grateful for a 1962 Pennsylvania fund-raising appearance on his behalf by Massachusetts Republican Henry Cabot Lodge. At that same time. Lodge's son George was running unsuccessfully for the U.S. Senate against Teddy Kennedy-and piling up an $85,000 campaign deficit. By appearing at a $100-a-plate dinner last week. Scranton helped raise $65,000 against that deficit...
...with economists today "every problem has several alternative solutions, and every answer raises several questions." But the President had no doubt about his own solution for what ails the U.S. economy; he again asked support for raising the national debt limit, cutting taxes, and running the budget at a deficit. If these measures are blocked, said Kennedy, the result would be a "downturn for the American economy as a whole." The New York Times editorialized that this "amounts to buck-passing in advance, aimed at pinning the blame on Congress for any possible recession...
Mergers seem a neat way out of trouble for airlines and railroads. Deficit-ridden Eastern Air Lines has asked the Civil Aeronautics Board for permission to merge with moneymaking American Airlines; troubled Trans World Airlines hopes to merge with solid Pan American. Twelve of the nation's major railroads have applied to the Interstate Commerce Commission for permission to enter into regional mergers. The ICC's approval last December of the rich Chesapeake & Ohio's application to take over the hard-up Baltimore & Ohio encouraged railroad and airline executives to believe that the official climate in Washington...
Many troubled nations are avidly seeking IMF aid. Argentina, which is fighting inflation, depression and a $365 million budget deficit, has been forced to raise cigarette and gasoline taxes and promise to raise fares on its debt-ridden national railways to qualify for a $50 million IMF loan. Inflation-racked Indonesia wants $30 million, and the IMF will probably demand a stern austerity program and a slowdown in military spending.* Seeking $100 million, nearly bankrupt Brazil has pledged to cut its rate of inflation in half this year-from 60% to 30%. But that is not enough...
Yale's Steve Clark and Mike Austin swept the 50-yard freestyle in 21.5 for another Eastern mark, and the Bulldog medley relay team touched out Princeton to win in 3:40.7. Austin won that race for the Yalies by making up a huge deficit with a 47.0 freestyle anchor...