Word: deficit
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Dates: during 1960-1969
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...Crimson golfers broke a four year Penn State winning streak Saturday when they fought back from a 15-stroke deficit midway through the 36-hole tournament at Princeton to snatch the team trophy from the favorites...
...been the fiscal conservatives' demand for a substantial cutback in federal expenditures. With military spending still going up and the needs of the cities paramount in the minds of most liberals, there seemed little room for maneuver, even with a projected budget of $186 billion and a possible deficit of $25 billion (on top of a $24.6 billion deficit projected for this year). Massive cuts, liberals believed, would gut too many socially oriented programs that have already been pared to the bone...
...March deficit was caused in part by the long copper strike, an eleven-day New York dock strike, and by steel stockpiling as a hedge against a possible steel strike in August. While the outlook for the year as a whole is by no means so dismal-Washington has all but abandoned hope of reaching President Johnson's goal of fattening the U.S. trade account by $500 million in 1968. Says a top Commerce Department official: "We'll be lucky if we can hold the '67 surplus...
Unless the U.S. can offset this prospective shortfall, it will lead to a rise in the dollar-weakening balance of payments deficit and renewed peril for the free world's monetary and trade system. Chances of improvement seem slim. Congress has shelved the President's proposals to curb tourist spending abroad; rising costs of the Viet Nam war could forestall Government promises to curtail its spending overseas. Thus, it was hardly a surprise last week when the free-market price of gold -a seismograph of foreign anxieties over the dollar-inched up to $39.60 per oz., its peak...
...suffered by at least 122 manufacturing industries. Among them: steel, paper, food-and-drink, glass, textiles, apparel, lumber, leather, shipbuilding, autos, watches and sporting goods. In 1-966, those 122 provided 35% of the nation's industrial jobs, but they ran up a hefty $7.5 billion trade deficit. Says Finance Chairman Robert C. Tyson of U.S. Steel Corp.: "America generally has become less competitive than it was. Companies of other nations, frequently with American-aided modern capacity, often with government subsidy and protection, and universally with lower wage rates, can now effectively compete with American companies...