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Word: deficit (lookup in dictionary) (lookup stats)
Dates: during 1960-1969
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Overall, Kennedy maintained that the economy improved in his two years in office. Personal income is up 12%; corporate profits reached a record $51 billion for 1962. The balance-of-payments deficit has dropped from $3.9 billion in 1960 to $2 billion in 1962. But this is not good enough. Kennedy contended, since 4,000,000 are still unemployed, some $30 billion to $40 billion in productive capacity lies idle, and the U.S. growth rate has averaged only 2.7% since...

Author: /time Magazine | Title: Nation: Kennedy's Case for a HIGHER BUDGET & LOWER TAXES | 1/25/1963 | See Source »

...once said he "wouldn't cross Broad Street to become Governor." Now he remembers: "The Democrats were in control down in Washington. What a bunch they were . . . When I was inaugurated, there were 1,000,000 unemployed in this state. We had a $90 million deficit. The Democrats knew I wanted to balance the budget. So what do you suppose they did? Every time I was about to balance it, they would slash the WPA rolls. Once they knocked 100,000 off the rolls, making Pennsylvania put them on relief. That was a terrific added burden. But I guess...

Author: /time Magazine | Title: Nation: Voices from the Past | 1/25/1963 | See Source »

...Sunshine) Davis, 60, and his wife Alvern moved into the costliest governor's mansion in the U.S. Davis was feeling kind of sheepish for having pushed completion of the $1,000,000 "Taj Mahal of the bayous" at a time when he had a record $73 million deficit, insisted that all this Greek Revival splendor is just not for him: "So far as I'm concerned, all I need is my bedroom with a rocking chair, a flashlight and coon dog." As for pictures, said Davis, "the only ones I'd want would be a picture...

Author: /time Magazine | Title: People: Jan. 25, 1963 | 1/25/1963 | See Source »

...exhilarated: "There is some danger that the euphoria thus generated may tend to eclipse the harsher side of reality." Kennedy's rosy picture of things, concluded the Times, was "too good to be quite true." The Providence Journal challenged his logic: "How a President facing such a big deficit can stand before Congress advocating more spending and lower taxes and call his program 'fiscally responsible' is more than we can understand...

Author: /time Magazine | Title: The Press: From All Directions | 1/25/1963 | See Source »

...promising choice. A dedicated socialist and onetime Minister of Labor under Clement Attlee, Robens had had no experience at all in running a big business. And the task before him was staggering. Burdened with uneconomic mines and archaic mining methods, Britain's coal industry had piled up a deficit of $227 million since its nationalization...

Author: /time Magazine | Title: Britain: Out of the Hole | 1/25/1963 | See Source »

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