Word: deficit
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Dates: during 1960-1969
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...last week more than 50 of Mali's 250 most important foreign enterprises, mostly French, had pulled out. The trade deficit stood at $26 million and reserves had shrunk to a minuscule $5,000,000. In Paris the French listened with almost saintly patience to Mali's pleas for a massive bail-out loan; when all is said and done, France is expected to come across with the cash. As an exporter of peanuts and beef (its cattle are north of Africa's tsetse fly zone), self-sufficient in rice and other staples, Mali just might make...
...emergent consensus, prolonged hearings, intense lobbying and impassioned arguments lie ahead for the Administration's tax program. Though they advocate tax reduction in principle, conservatives in both branches of Congress are wary of cutting taxes at a time when the Federal Government is already deep in the red. A deficit of about $8 billion is estimated for the current fiscal year. Another massive deficit lies ahead in fiscal 1964, even without a tax cut. Virginia's Senator Harry F. Byrd, chairman of the Senate Finance Committee, recently said that "sharp reductions in federal expenditures should precede any major reduction...
...argument that the tax cuts should not be piled atop a big budget deficit, Kennedy counters with sophisticated rhetoric. The basic reason for the deficit, he says, is not that the federal budget is too fat, but that taxes are too high. Such taxes, the argument runs, drag down the economy, reduce corporate and personal income?and thereby shrink federal revenues. Tax reduction will get the economy moving faster, increase profits, incomes and tax revenues. Accordingly, argues the President, the increased margin of deficit resulting from tax reduction in 1963 would be a "temporary deficit of transition," a sort...
...most outstanding game of the season so far, against Colorado College, the Crimson started off with a 2-0 deficit in the first period. For the first time in any Crimson first period, the opposing team outshot the varsity...
Since the Administration is unlikely either to raise interest rates or to reduce foreign aid significantly, the only real hope for ending the U.S. payments deficit lies in a massive increase in exports. President Kennedy's Trade Expansion Act is designed to achieve just that-but it is unlikely to have major effects before...