Word: deficit
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Dates: during 1960-1969
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Rockefeller Problems. If many key Republicans were piqued at Goldwater for blasting Nixon, even more were angered at Rockefeller for failing to turn the tide in make-or-break New York, where a 1956 Eisenhower plurality of 1,600,000 votes ebbed to a 1960 Nixon deficit of 400,000. "There is a feeling that the best effort was not put out here," said a top New York Republican who is no friend of Rockefeller's. "Nelson will have one helluva time getting re-elected Governor in 1962." The Rockefeller rebuttal: he had given 400 enthusiastic speeches for Nixon...
...Bound to suffer: Canada's railroads, which already lose money on their cross-continent runs (one-way tourist fare, including a berth but no meals or extras: $115.40). TCA Boss McGregor is not concerned about his competitors. "The lower we can keep fares without getting into a chronic deficit position," he says, "the better it will be for both TCA and the traveling public...
Railroads. Eastern railroads had no cheer at all to offer stockholders. The Pennsylvania, taking a double blow from sagging steel shipments and a 12-day strike, lost $4.5 million in September for a nine-month deficit of $9.4 million v. $449,000 last year. Chairman James Symes held out no hope that the road could finish the year in the black. The rattling New Haven lost $1.8 million in September, running its nine-month losses to $11.4 million. The New York Central lost $2.7 million in September, putting it $2.5 million in the red for the first nine months...
There is no such easy solution to the major, long-term gold problem that still faces the U.S. It is caused by the steady outflow of U.S. gold, resulting from a huge deficit in the U.S. balance of payments. (The U.S. lost $108 million in gold last week, bringing the total this year to $983 million.) The latest figures indicate that the U.S. payments deficit rose to more than $1 billion in the third quarter...
Chief reason for the third-quarter rise in the deficit was a flood of uneasy dollars that are always seeking the highest interest rates around the world. They flowed to such countries as West Germany and Great Britain as interest rates eased in the U.S. But the overall and continuing deficit in the balance of payments has a broader cause: the fact that the U.S. is spending more abroad on defense, economic aid, military assistance, tourism and private investments than it earns from its foreign trade, thus piling up foreign claims against the U.S. gold supply...