Word: deficit
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Dates: during 1960-1969
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Newsmen languidly covering President Eisenhower's vacation at Augusta, Ga. suddenly perked up last week when Treasury Secretary Robert B. Anderson and Defense Secretary Thomas S. Gates flew in from Washington for a 2½-hour huddle with their boss. Pressing topic: the U.S.'s nagging deficit in international payments and the resulting drain on U.S. gold reserves, eroding international confidence in the soundness of the dollar...
...finally issued, the President's directive had a desperate tone about it, with its "buy American" restrictions running counter to the longstanding Administration goal of freer world trade. The pinchy, protectionist mood of the directive made it plain that the balance-of-payments deficit is one of the gravest problems facing the U.S. and its new President. It would be a body blow to the free world if the U.S. tried to solve the problem by slashing foreign aid or by retreating to protectionism after a decade of heartening progress toward freer trade. To avoid those paths...
...grateful for Bonn's patched-together foreign-aid package. But for all its potential value in helping meet the insatiable needs of the new Afro Asian nations-which the U.S. cannot hope to meet alone-the German program would not reduce this year's U.S. international-payments deficit in the slightest; it was, a U.S. spokesman laconically noted, "a beginning...
...University expert attacked President Eisenhower's recent action to reduce the balance of payments deficit yesterday and termed the situation "far from desperate...
...exports have been increasing steadily over the past year," Smithies said. "Our international reserves are efficient to finance a deficit for some wars...