Word: deficits
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Dates: during 1950-1959
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...main reason for the rate hike is a Post Office deficit which is now approaching $1 billion. The various increases will make up this deficit and will also finance a projected pay raise for postal employees. The raises, however, do not constitute a fair adjustment of postal rates...
...first class rates were kept at three cents and the other mail rates raised to meet the need, the deficit might be erased in a more equitable manner. In addition, some of the bulky and annoying advertisements would probably be eliminated from the mails...
...they have not been able to earn the money they need to keep up the kind of service the U.S. expects and demands. In January, said Pennsylvania President James M. Symes, gross revenues slipped 15.5% from a year ago to $69.4 million, leaving the line with its third monthly deficit ($2,527,222) in a row. And to underscore the point last week, New Haven President George Alpert, who likes to fiddle to take his mind off his road's troubles, announced that the New Haven's finances were so poor it could not pay some...
...Robert B. Anderson and Federal Reserve Board Chairman William McChesney Martin agreed in testimony before Capitol Hill's Joint Economic Committee that 1) the U.S. economy is basically healthy and can be expected to recover its zip without drastic Government medication, and 2) strong hypodermics, such as a deficit-producing tax cut, might do harm by stimulating inflation fever. Inflation, warned Chairman Martin, will be "one of the most crucial problems we have to face over the next couple of years." Said Anderson: "I can conceive of situations where tax reductions might appropriately be brought into play...
...apply the full logic of K. & A.'s citizen-capitalism. Instead of broadening the base of capitalism, they argue, the U.S. merely redistributes earnings through an elaborate, makeshift system including the steeply graduated income tax, arbitrarily fixed high wages, surplus-producing subsidies, featherbedding, Keynesian deficit financing, etc. Through such "creeping socialism," labor's share of the wealth produced has increased from an estimated 50% in 1870-80 to 70% in 1956. Yet this redistribution, argue K. & A., while it may have been necessary to boost mass purchasing power, is unjust...