Word: deficit
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Dates: during 1960-1969
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Friends of the Deficit...
TIME'S article on National Review [Feb. 16] contains one unfortunate misstatement of fact. National Review's annual deficit is made up through the contributions of several thousands of its readers. The magazine could not survive, on the present operating basis, without their support. The Buckley family did indeed contribute a substantial sum toward the launching of National Review and its support in the first years. But the limit of this source of support has long since been reached, and National Review is indebted for its existence today to the many friends who in the past four years...
...several years, South Shore cities through which the MTA would pass have successfully opposed legislative action to extend the system. Quincy, Braintree, and other towns prefer no rail service at all to paying the share of the MTA's annual operating deficit that all cities on the line incur...
...result, imports of machinery became so heavy that by mid-1961, ships were literally queued up in Japan's harbors, sometimes had to wait as long as 30 days to be docked for unloading. This, plus the U.S. recession, which slowed exports, caused Japan's trade deficit to jump to a record $1.5 billion last year...
News of the trade deficit chilled the stock market, and by December prices on the Tokyo Exchange had plummeted 30%. For months the market had been rising so joyously that investors forgot it could ever decline, and common people had become such avid speculators that brokerage houses opened offices in department stores for the convenience of housewives. Reluctantly, Ikeda raised interest rates to discourage further borrowing for expansion and put curbs on imports. As a result, the trade deficit has gradually begun to improve and stock prices have started recovering...