Word: deficits
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Dates: during 1950-1959
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Beneficial Deficit...
That meant that Stevenson would have to make up the deficit in the Far West-where his best chance is to grab onto Senator Warren Magnuson's flying coattails in Washington-and the industrial Northeast, where Pennsylvania looked especially important to the political swarms that were heading its way. That the Stevenson campaign still faced a steep uphill climb was evidenced by last week's Gallup poll, showing Ike still ahead of Adlai by 52% to 41%, with 7% undecided. For all the talk of farm revolt and G.O.P. disaster, Adlai Stevenson had not yet gained a single...
...Mayor Gizo Takayama, a Congregationalist, with ill-concealed envy. To Mayor Takayama, whose father founded the first Y.M.C.A. in the city, the sightseers' gold was an asset that should be shared by the temples with the city as a whole. To help pay off his city's deficit (1,800,000,000 yen) and to construct a vast urban convention hall, the mayor proposed a 5-to 10-yen tax on each temple admission...
...European traders outside West Germany. Belgium, Holland and Switzerland all have stable money and trade balances, could probably compete under the terms of free currency exchange. Italy, too, is moving ahead rapidly; the lira has been stabilized at 625 to the dollar, and, while Italy has a sizable trade deficit, the flood of tourist dollars helps right the balance, has pushed foreign currency reserves to a near record $1.2 billion...
...worse shape economically. Though France is enjoying an industrial boom, with production up 31% since 1953 v. 28% for West Germany, prices and wages have soared twice as fast. Thus, with demand outstripping supply, imports have climbed so high that France's trade balance showed a $575 million deficit during the first seven months of 1956 v. $49 million surplus last year. Financiers argue that France should devalue its franc (officially 350 to the dollar, actually 405 and up) to boost exports, and take drastic steps to clean economic house. But France so far has shown little talent...