Word: deficit
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Dates: during 1960-1969
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...plentiful because the Federal Reserve Board, even while raising interest rates, allowed the supply of money in circulation to grow at a rate that proved to be inflationary. The board had to feed funds into the money market so that the Treasury could borrow to finance the federal deficit of $25.4 billion in fiscal 1968. Such great deficit financing, most economists agree, is the fundamental cause of U.S. inflation...
...slums. As one Rockefeller aide puts it, "The sound of the steam shovel will soon be heard in the land." More immediately, however, Rockefeller faces a fiscal crisis of immense proportions. The 1969-70 budget is likely to exceed $6 billion, leaving the state with an estimated $1 billion deficit...
...long before that-perhaps by next spring-unless the economic austerity programs in France and Britain sharply reduce the pressures on the franc and pound. Last week both currencies rallied a bit in international trading. The pound gained after Britain reported that rising exports had lessened its chronic trade deficit during November. The franc rose even though France announced a $200 million November trade deficit, triple that of October. The money was stronger because, for the moment, most Frenchmen seemed to be accepting De Gaulle's stringent curbs. But the real test will begin early next year, when unions...
Second man Terrell followed Nayer's lead. Third man Michel Schienmann also won, 3-1, after fighting back from a 10-2 deficit in the first game...
...than the figures suggest. About $3 billion or $4 billion of the nation's exports come from Government-financed sales of foreign-aid supplies and military goods. Not counting all that, the U.S. "commercial" trade will be in the red this year for the first time ever. Expected deficit: $2 billion to $3 billion...