Word: deficit
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Dates: during 1960-1969
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...structure." The C.E.D. also disagreed with the Byrd view that 1963 tax cuts should be accompanied by substantial reductions in Government expenditures. Tax reduction, argued the C.E.D., would so stimulate the economy, by fostering investment and demand, that revenues would rise high enough to erase the deficit and bring the budget into balance...
...speech, the President, too, argued that the deficit resulting from tax reduction would be only temporary. What had caused the chronic budget deficits of recent years, he said, was not excessive expenditures, but a too low level of economic performance, resulting in inadequate federal revenues. "In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low -and the soundest way to raise revenues in the long run is to cut rates . . . The purpose of cutting taxes now is not to incur a budget deficit but to achieve the more prosperous, expanding...
...practical choice," he went on, "is not between a tax-cut deficit and a budget surplus. It is between two kinds of deficits-a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy, or a temporary deficit of transition, resulting from a tax cut designed to boost the economy. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future...
...bring in as much as it used to. There is drought in the southern farm lands, and Chileans are still repairing the $400 million damage from catastrophic earthquakes 2½ years ago. Chile also shares some of the woes common to most of her neighboring republics-inflation, government deficit spending, and a serious trade imbalance that recently forced the devaluation of Chile's escudo currency...
...another 75 billion to cover Christmas bonuses for workers. The cruzeiro, which stood at 280 to the dollar when Goulart came in, is now at 825. Some $900 million worth of foreign debts comes due next year, and Goulart's government faces an internal 1963 budget deficit of more than 600 billion cruzeiros (see chart...