Word: deficits
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Dates: during 1950-1959
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...doesn't care beans about pork-barrel politics, went before an N.R.H.C. conference in Washington to explain why there just isn't enough money for all the rivers and harbors projects that the organization urges on Congress. In fiscal 1959. said Stans, the Federal Government faces a deficit of $8 to $10 billion. True enough. President Eisenhower sent to Congress last January a 1959 budget showing a $500 million surplus, but since then the 1959 revenue estimate has slid from $74.4 billion to $70 billion. Meanwhile, the spending has soared at least $4 billion above the original budget...
...looming 1959 deficit, said Stans, compels the Administration to "look critically at each one of the additional expenditure proposals being urged upon us." And a little elementary arithmetic shows that it will also compel the Administration to ask for another boost in the federal debt ceiling, which Congress reluctantly upped from $275 billion to $280 billion only three months...
...Freight carloadings in the first week of May were 26% below the year-ago level. ¶ Passenger losses dipped even deeper* than last year, when they brought a $700 million deficit...
Chile's copper exports will be off some $225 million this year, pushing the country into an overall $95 million trade deficit. Bolivia, which gets about 80% of its export money from tungsten, lead, tin and zinc, whose prices are off as much as 30%, is in the same economic fix. So are such metal-producing African exporters as Rhodesia and the Belgian Congo, whose exports of nonferrous metals were hit by a 9% price decline in the first quarter of 1958 alone...
Almost every Asian nation has grandiose plans for new roads, dams, industries -and little to pay the bills save raw materials. Owing largely to the commodity decline, according to the United Nations Economic Commission for Asia and the Far East, its 16 Asian member nations had an aggregate net deficit of $2.1 billion for the first half of 1957 alone v. a deficit of $750 million for all of 1955. To make it worse, the area's share (excluding Japan) of world trade, which stood at 10.7% of the total in 1950, has now declined...