Word: deficit
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Dates: during 1960-1969
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...become almost fashionable in Washington to worry about the U.S. balance-of-payments deficit, that longstanding cause of the U.S. gold outflow. Economists frequently deplore it, businessmen point to it with alarm, and the Administration itself has put some of its best minds to work combating it. Thanks to all the fuss, the balance-of-payments problem may no longer be such a worry. Last week Treasury Under Secretary Robert V. Roosa told the House Banking and Currency Committee that the U.S.'s payments deficit in the second quarter of 1962 was very much smaller than in the first...
...case, the balance-of-payments problem, while bothersome enough to a nation that aspires to keep its books balanced, is not the bugaboo that it has sometimes seemed to be. It would be crucial if the U.S. had a true payments deficit in the sense that other deficit nations do-but the U.S. does not. The U.S. deficit is a result of its heavy foreign aid and military programs abroad-without which the U.S. would have a healthy payments surplus-and not of any basic imbalance in its economic relations with other nations. It is therefore far less important than...
Wonderland Economics. The general slowdown is making for some unfamiliar strains in the payments balances of many countries. Europe's huge hoard of gold and dollar reserves is dropping. West Germany recently moved from a fat surplus to a small deficit in international payments, and the surpluses of Belgium and Switzerland are declining. And in a time when everyone talks of expanding markets, Japan has clamped on import controls and Canada has raised many of its tariffs from 5% to 15% in an attempt to bolster its sagging dollar. It seemed that almost all countries were attempting to improve...
...prestigious Christian Century (circ. 37,500). Bell organized a committee of clerical sponsors, raised the capital funds from a number of millionaire Protestant laymen, including Oilman J. Howard Pew and Chairman Maxey Jarman of GENESCO, Inc., who still make up most of the magazine's annual $225,000 deficit. To edit the new magazine Graham's committee chose Baptist Professor Carl Henry, 49, of Fuller Theological Seminary in Pasadena. He agreed to take on the job for a year "to get things moving in the right direction." Henry is still keeping Christianity Today on the move. Raised...
...straight. Nihon Keizai had built its overblown story on brochures that the Commerce Department sent last March to U.S. embassies in Europe and Japan. They were part of a campaign to attract more foreign investment to the U.S. as a way to alleviate unemployment and the balance-of-payments deficit. Though the Japanese were among the recipients, the Commerce Department really expected no significant Japanese response because of high U.S. labor costs and tight Japanese restrictions on capital exports...