Word: deficit
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Dates: during 1960-1969
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Some firms also figure that the rising federal deficit will force the Government to pre-empt borrowable funds later in the year. Indeed, Treasury Secretary Henry Fowler admitted to Congress last week that falling corporate tax revenues and climbing Pentagon spending will push this year's deficit to $11 billion, or $1.3 billion more than the Administration forecast only four months ago. Fowler also predicted that the red ink might soar to an inflationary $24 billion in election year 1968 if war costs continue to escalate or if Congress fails to raise taxes. Accordingly, Fowler asked...
...Real Pressure. The Treasury boss also asked Congress to lift its long-established 41% interest-rate ceiling on Government bonds of more than five years maturity lest there be "a sharp rise in short-term rates." Another upward pressure on interest rates is the U.S. balance-of-payments deficit; last week the Commerce Department reported that the deficit jumped 19% from the fourth quarter of 1966, to $539 million during this year's first quarter...
Unpleasant as that sounds, bankers privy to the Government's own figures insist that it understates the problem by including special "nonrecurring" deals. Without these, the deficit would be double what the Administration admitted. Even on the Commerce Department's basis, the deficit is running at an annual rate of more than $2 billion, compared with $1.4 billion...
...This was a team that worked hard to win, and the results show that they worked hard enough. The one loss -- to Brown -- came after a week and half layoff and the boys still made me proud there by coming back from a 6-0 first quarter deficit to make it close at the end. This was a real solid ball club," Lentz said...
Strauss's attack was triggered by VW's request that the government relax tax measures that were instituted to ward off a potential deficit in the national budget. Turning the company's complaint around, Strauss charged that the carmaker has come up with little in the way of innovations that might spur the German economy out of its deflated state...