Word: deficits
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
Last week Treasury Secretary Robert B. Anderson told of the red-ink results-which spelled out in big figures why the Administration has resisted a deficit-increasing tax cut. Instead of a $1.8 billion surplus for fiscal 1958, ending June 30, the Federal Government will run up a deficit of more than $3 billion as it is. Total federal spending will be up from the estimated $71.8 billion to "well over" $73 billion. And revenues will be down from $73.6 billion to about $70 billion...
...what may have been the understatement of the week, Anderson saw a "likelihood" that 1959 income would fall short of January estimates. Privately, Treasury officials consider a shortfall inevitable, guesstimate it at $4 billion or more. Net result: a 1959 deficit of perhaps $8 billion...
While the nation's dollar reserves have plunged from $225 million to around $150 million, its trade deficit has soared to $186 million; its national debt is up to $800 million, and one-fourth of the labor force is out of work or underemployed. Garcia himself insists placidly, lighting a Chesterfield with a gold lighter, that "things are about back to normal...
...Eastern railroads skidded (TIME, April 14). the Erie wheezed in with a quarterly deficit of $2.800.000. pared executives' salaries by 10%. Chemicals and paper companies continued to feel the pinch. For Union Carbide, second biggest U.S. chemical maker (first: Du Pont), the first-quarter net tumbled to 70? a share v. $1.18 a year ago. International Paper Co. sales slipped 10% for the quarter, and earnings will show a sharper drop. In appliances. Whirlpool's per-share earnings were almost halved to 25? a share. Admiral Corp.'s earnings also dipped, and Philco "will undoubtedly show...
...informally before the Dunster House Forum, he stated that the economy should "run the risk of a future inflationary upturn" in order to halt the far more dangerous problem of depression. The United States economy, with a potential gross national product of about $450 billion can well support a deficit as high as $10 billion, he asserted...