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Word: deficit (lookup in dictionary) (lookup stats)
Dates: during 1960-1969
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Usage:

...Administration economist observed last month that if there were no Vietnam war the Federal government would have a budget surplus rather than a deficit. But there is a Vietnam war, and as military expenses grow interminably, the government anticipates a deficit of $29 billion for fiscal 1968. A deficit this large causes an excessive stimulus on the economy, and for that reason President Johnson asked Congress in early August to approve a temporary 10 per cent surcharge on income taxes for both individuals and corporations. He hopes this surcharge and other fiscal proposals will reduce the deficit by $11 billion...

Author: NO WRITER ATTRIBUTED | Title: While Raising Taxes . . . . | 8/15/1967 | See Source »

...package that would impose, at least through 1969, a 10% surcharge on all corporate and individual income taxes. Along with borrowing and belt-tightening in such programs as public works, the President hopes the surcharge, which should bring in some $6.3 billion, will reduce the national budget deficit from a crushing $29 billion to between $14 and $18 billion...

Author: /time Magazine | Title: The Economy: 10% More | 8/11/1967 | See Source »

...Ruinous Spiral." Without the surcharge, the President argued in his ten-page special message, the deficit could cause "a spiral of ruinous inflation which would rob the poor, the elderly, the millions with fixed incomes; brutally higher interest rates and tight money; an unequal and unjust distribution of the cost of supporting our men in Viet Nam, and a deterioration in our balance of payments by increasing imports and decreasing exports...

Author: /time Magazine | Title: The Economy: 10% More | 8/11/1967 | See Source »

...large part of that rush for funds has been Washington-inspired. Without higher taxes, the U.S. Treasury would be forced to siphon nearly $15 billion out of the long-term money market during the second half of 1967 to pay the deficit-plagued Government's bills. Another $25 billion of maturing federal debt must be refinanced. Figuring that Treasury financing on such a scale would drive interest rates above their present levels, many corporations have accelerated their borrowing lest they be caught in another credit squeeze...

Author: /time Magazine | Title: Money: Lower Interest, Maybe | 8/11/1967 | See Source »

...Americans have never been so overcommitted in foreign entanglements," thundered a recent editorial in the Deseret News. "Never have their natural resources been so extravagantly used, never has the national deficit been so great except in times of all-out war, never have taxes been higher, inflation more out of hand; never has youth faced a more uncertain future, never have there been heavier encroachments on personal liberty by an all-powerful federal government, never has crime been more ugly and broad, never the air more polluted, food, clothing more expensive-ad infinitum...

Author: /time Magazine | Title: Newspapers: Stern Mormon View | 8/4/1967 | See Source »

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