Word: deficits
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Dates: during 1950-1959
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Canada, a nation envied by the world for her brimming postwar budget surpluses, sprang two startling fiscal surprises last week. For the first time in nine years, red ink appeared on the national budget and a $160 million deficit was forecast for the year ahead. But instead of belt-tightening to make up the shortage, Canada launched a bold tax-reduction program, slashing personal and corporation income and excise rates to put more money in circulation and give the country's economy a judicious shot...
...company revenue goes to support a royal regime that is itself a fantastic blend of East and West, ancient and modern. The money pours in like a flash flood in a dry wadi but it flows out even faster. This year's government budget estimates a deficit of close to $60 million. Little of the huge sums that are spent trickle past the palace gates into the hands of ordinary Saudis...
Johnson blandly explained that the income-tax cut would not add a cent to the national deficit since his amendment also proposed to 1) continue the present excise and, corporation-tax rates for two years instead of the one-year extension requested by the Administration, and 2) take away the dividend credit granted by the 83rd Congress to stockholders...
...Deficit Financing. In Valparaiso, Ind., sentenced to ten years for robbing a bank of $4,326, Edwin L. Fogle, 21, explained that he needed the money to make restitution for money he had stolen in a Milwaukee holdup...
With Winthrop's George Doyle and forward Dave Bodiker, Berson sparked a fourth-period drive to eliminate a 15-point deficit. But Cliff Alexander and Jim Joslin of Lowell protected the Rineharts' sizable lead with several well-placed jump shots...