Word: deficits
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Dates: during 1950-1959
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Whether the Democratic Congress goes for tax cuts or public works or, as is most likely, a generous combination of both, the price will be a huge budget deficit. With the recession pushing federal spending up and revenue estimates down, a fiscal 1959 deficit of $5 billion or more already looms. Tax cuts or massive new spending could easily mean a red-ink splash of more than $10 billion, biggest since...
...years the Administration has been trying to raise the first-class-mail rate as part of its drive to end the postal deficit, which is running over $650 million a year. Last week, thanks to unexpected party solidarity among the Republicans (only two G.O.P. defections, v. five party-line-crossing Democrats), the Senate voted 49 to 42 to raise the rate on in-town letters to 4?, to raise out-of-town mail...
...week's end House Speaker Sam Rayburn predicted a fight in the House (which last session voted a 4?rate for all first-class mail) to knock out the fifth cent. Since the House is not likely to trim the spending, the cut would make the deficit even greater...
...sound of falling Cabinets and the noise of futile oratory. These young, vigorously anti-Communist colonels were a new factor in Indonesia's tumbling political confusion. The Outer Islands, and Sumatra in particular, produce nearly 100% of Indonesia's exports, while overpopulated Java has always been a deficit area. The profits earned by their products went to Djakarta and, it seemed to the colonels, never came back. Sukarno believes not in economics, but in people-and Java had most of the people...
...wages to remain steady. ¶France, traditionally slow to react to economic fluctuations in the rest of the world, is still fighting inflation. While production is increasing at a rate of 9% annually, prices are still rising. Biggest concern: the government's battle to keep the budget deficit manageable. ¶The Benelux countries are in a mild recession. Belgians are worried about high coal stocks and low commodity prices. Dutch agricultural exports are lagging, but overall exports continue to rise 3% a year. Money rates in all the Benelux nations have been dropping. While there is some regional unemployment...