Word: deficit
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Dates: during 1960-1969
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Collins is worried that the deficit caused by withholding last year's school aid will mean a $4.40 increase (about 4 per cent) in the city's tax rate. But the State Board of Education has gone out of its way to see that Boston will not needlessly suffer a loss of the badly needed state aid. The Commissioner of Education has clearly indicated that he will not give Boston's money to other districts (though the law strongly implies that he should); instead, the money is ready and waiting--if the School Committee will just...
Fine Tuning. The NIA budget is a more accurate measure of total federal impact on the economy, and Johnson claims the Administration can manipulate NIA delicately to produce a stabilizing force. For the rest of fiscal '67, the NIA deficit is computed at $5 billion.' This is to decrease starting July 1, so that by the second half of fiscal ''68, when no federal stimulus is wanted, the NIA should be finely tuned to a balance...
...Presi- dent himself had pulled back on many Great Society programs, asked $3 billion less overall than previous congressional authorization schedules had envisioned. But his proposal for a 6% surcharge on personal and corporate income taxes, amounting to $4 billion plus, faces serious challenge. If it fails, the real deficit will grow. Also in doubt is his plan to sell another $5 billion in "participation certificates"-shares in Government-held mortgages and other obligations. To many members of Congress, this is a gimmick to hold down the budget size. And there is no assurance that the private market can absorb...
...ritualistic cracks about the U.S. in Viet Nam, and Italian President Giuseppe Saragat riposted gently that everyone should seek "mutual understanding." But there were few differences about trade, in which Italy is already heavily involved with the Soviet Union. The Italians did express some concern over their persistent trade deficit with Russia, which ran close to $100 million in 1966 as a result of large imports of Russian crude oil. Italy exported some $80 million (mainly in textiles and machinery) to Russia last year and intends to see that those figures rise as rapidly as possible. To keep the Russians...
...spigot unless there is comparable action abroad. At least $2 billion of interest-sensitive Eurodollars-U.S. dollars on deposit in foreign banks-poured back into the U.S. last year. If falling U.S. rates reverse that flow, it would deepen the already worrisome U.S. balance of payments deficit, putting further strains on the dollar abroad. Similarly, the British dared only a cautious cut in rates to help stagnating industry lest a bigger step put new pressure on the pound. The Chequers "miniSummit" produced a mere gentleman's agreement, but it recognized as never before the growing interdependence...