Word: deficiteer
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Dates: during 1960-1969
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Despite its success, Expo may still wind up with a $250 million deficit. But as far as Montreal and Canada are concerned, it was worth it. For the fair leaves behind a splendid legacy of international good will and national pride-not to mention an embarrassment of riches. Thirty-six nations have already agreed to hand over their pavilions to Montreal, and Mayor Jean Drapeau, the originator of Expo, is casting about for ways to make the island sites into a permanent summertime exhibit and tourist attraction. Among his envisioned lures: Buckminster Fuller's U.S. geodesic dome, converted into...
...last-minute Dartmouth field goal thwarted a Harvard fourth-quarter comeback and gave the Indians a 23-21 victory today. After seeing Harvard roar back from a 20-0 deficit, Dartmouth drove from its own 30 yard line to the Crimson 5 yard mark before the Harvard defense halted the drive. The Dartmouth field goal try was wide, but a Harvard offside penalty gave Indian kicked Pete Donovan another chance. He made...
...many other bankers and economists, Leach insists that both federal spending cuts and a tax increase have become "absolutely imperative" to avoid financial chaos. Ordinarily, the Federal Reserve Board would clamp down on credit. But the Treasury's need to finance at least another $5 billion of federal deficit by year's end-and much more in 1968-locks the Reserve Board in the meantime into a policy of monetary ease. So far this year, the board has stuffed banks with enough money to cause a 7% expansion in U.S. money supply and a somewhat more inflationary...
England's faltering economy makes decisions about new towns tough for the Government. The country has a limited amount of farmland and a severe housing shortage. But if new towns are to be built, farmlands must be lost. In addition, England's balance of trade deficit has forced Wilson to freeze wages and tighten money. But these measures make investors less willing to move or expand into new towns...
...happy about the increased number of foreign tourists, particularly the U.S. Government. The other side of the coin is not viewed with such pleasure in Washington. More and more U.S. vacationers have been fleeing the country and taking their dollars to foreign lands. As a result the U.S. travel deficit, which increased by $31 million in 1966 to $1.64 billion, is expected this year to hit $1.8 billion or more...