Word: deficits
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Dates: during 1950-1959
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Victims of Illusion. By hitting Japan economically, where it is most sensitive (Japan's trade deficit was $1.4 billion last year), the Chinese Reds hope to stir up opposition to Premier Kishi and support for Peking-Tokyo trade. The Reds glibly dangle the bait of "600 million customers" before the eyes of Tokyo businessmen, although experience has shown that neither Communist China nor Japan has any great desire to buy the kind of consumer goods the other has to sell. Japanese businessmen also soon discover that they can deal only with state-owned Communist trading corporations rather than...
...Canada's trade deficit with the U.S.: "The U.S. and Canada are not state traders," said Ike. "All the products of industry manufactured in the U.S. and sold abroad are sold through the enterprise of the private seller. These articles come to you in Canada only because of the desire of the individual Canadian consumer to buy a particular piece of merchandise . . . To try to balance our books once a month or once a year with every nation with which we trade would stifle rather than expand trade...
...reason for the dizzying switch from surplus to massive deficit had nothing to do with either cold war or recession ; it was the further bloating of already swollen farm programs. As of January, the Agriculture Department was planning to spend a whacking $5 billion for the fiscal year, largely in efforts to cope with surpluses that are encouraged by high price supports (TIME, Aug. 19). But abundant spring rainfall brought lush crop prospects, notably in the long-parched Great Plains, and the department's outgo estimate mushroomed to $6 billion-more than twice the combined outlays of the State...
...there any prospect of a balanced budget in fiscal 1960, beginning a year from now? In reply to this press-conference question, the President said that he expected the deficit to "diminish" in 1960, but that it would take an "awful shrinkage" to bring $10 billion down to zero. In short...
...stock,* said Romney, who praised the SEC's action. More important, he announced that American Motors operations for the third quarter will be "even more profitable than previously expected," i.e., nine months' earnings of about $12,300,000 v. last year's nine-month deficit of $6,467,926. At that projected rate, total earnings in fiscal 1958 could well hit between $2.50 and $2.75 per share...